Chief Operating Officer promoted to Morley board

Article date: 8 August 2003

Morley Fund Management (Morley) today announced that ChiefOperating Officer Nick Alford is to be appointed to the MorleyBoard.

Nick currently has overall responsibility for Morley'sOperations function. He will now assume additional responsibilityfor Information Technology and Change Management currently held byChief Financial Officer Gerard Quirke.

Nick’s promotion is part of a planned succession processfollowing Gerard's decision to leave Morley Fund Management at theend of the year after four years with the company. Morley’snew Chief Financial Officer will be announced in due course.

Nick joined Morley on 2 January 2002 and was appointed ChiefOperating Officer in January this year. Nick was previously ChiefOperating Officer at DRCM Global Investors.

Gerard joined Morley in August 1999 and during his time with thecompany has been responsible for the Retail and Europe divisions.He was most recently Chief Financial Officer ultimately responsiblefor the Finance, Operations and IT departments.

Commenting on Alford’s appointment, Chief Executive KeithJones said: "Nick and his team have done a great job furtherdeveloping the robustness of our operations platform. Thispromotion is recognition for that work, which has greatly enhancedour capacity to serve our clients.

"Nick’s promotion is part of a plannedsuccession process. Gerard will continue to represent Finance atBoard level for the remaining months that he is with us. I wouldlike to thank Gerard for all his support throughout this processand his ongoing commitment to delivering our overall businessplan."

Commenting today, Gerard Quirke said: "This has been a toughdecision to make but, having delivered a number of key projects forMorley, I intend to now look for new challenges in the fundmanagement industry. I have enjoyed my four years with the Morleyteam and am sure that they will continue to successfully build thebusiness."

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For further information please contact:

Fiona Baker 020 7809 8617
fiona.baker@morleyfm.com
Head of Corporate Communications, Morley Fund Management

Notes to Editors

  • Morley Fund Management
    Morley FundManagement (‘Morley’) is an independently managed,London based, asset management business with over £104 billionunder management (as at 31.03.03). It actively manages a diverserange of asset classes and employs over 1000 personnel worldwidebased in London, Singapore and an associate office inBoston*.
  • Morley is a wholly owned subsidiary of the Aviva Group andmanages both institutional and retail funds under the Morleybrand. It also acts as investment manager for a range of retailinvestment funds, marketed in the UK by Norwich Union, andinternational funds marketed under the Aviva Funds brands.
  • Awards
    Fund Manager of the Year - Pensions WeekAwards 2002
    Specialist Manager of the Year - UK Pensions Awards 2002
    Insurance Fund Manager of the Year (awarded to Norwich Union) -Standard and Poor’s 2002
    Sustainable and Ethical Investment and Asset Management Award -Liveable City Awards 2002
    Pensions Management Provider Awards 2002 – Commended forBest SRI Fund Manager and Best Fixed Income Fund Manager

*Morley Fund Management International Limited, an Avivacompany

Further information about Morley Fund Management can be foundat www.morleyfm.com

Morley Fund Management is a business name of Morley FundManagement Limited, registered in England No. 1151805. A member ofthe Norwich Union Marketing Group, members of which are authorisedand regulated in the UK by the Financial Services Authority forlife assurance, pensions and investments. Registered Office: No. 1Poultry, London EC2R 8EJ. A member of the Investment ManagementAssociation.

Morley Fund Management is also a business name of MorleyInvestment Services Limited and Morley Fund ManagementInternational Limited. All are Aviva companies.

Contact us at Morley Fund Management, No. 1 Poultry, London EC2R8EJ.

Telephone calls may be recorded for training and monitoringpurposes.

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