Article date: 31 August 2006
Morley Fund Management, one of the UK’s largest activefund managers, announced today the resignation of Keith Jones afterseven years as CEO of Morley. Keith will leave the company at theend of this year. His decision comes after Morley delivered a 45%increase in profits year on year for the six months to 30 June2006.
Keith Jones commented: “After seven years at the helm, I havedecided it is appropriate for me to take a short break beforetaking on new and different challenges in the City. I have enjoyedworking with the team immensely and I leave confident ofMorley’s ability be to be highly successful within the fundmanagement industry in the coming years.
“I am extremely proud of what Morley has achieved since itwas formed in 2000. The company has maintained the momentum ofconsistent growth since that time, up to a record set of resultsearlier this month. I am also particularly proud of the positivecontribution that the firm has made to the evolution of goodcorporate governance in the UK.”
Keith joined Norwich Union Investment Management as CEO in 1999 andwas appointed CEO of Morley at the time of the merger betweenNorwich Union and CGU. Keith is a respected commentator on industryissues, having recently completed his term as chairman of the ABIInvestment Committee. He is also a board member of the IMA.
Executive search firm MWM Consultancy has been appointed to conductthe search for Keith’s successor.
Philip Scott, group executive director of Aviva and chairman ofMorley said: “Morley is Aviva’s largest fund managementbusiness, a leader in the UK and with a growing presence in Europewith a strong investment platform and access to powerfuldistribution channels. Under Keith’s leadership, Morley hasdelivered strong financial and operational performance thatestablishes a foundation to achieve future growth. Keith leaves thelegacy of a cohesive and energetic Board with a wealth ofexperience and skills to take the firm forward in its next stage ofdevelopment.”
For more information contact:
Head of Corporate Communications
Telephone: 020 78098617
Notes to editors:
Keith Jones is the chief executive ofMorley Fund Management, a leading European fund manager, and thelargest asset management business of Aviva plc, with in excess of€200bn of funds under management worldwide. Keith is a memberof the board of the Investment Management Association and the mostrecent past chairman of the Association of British Insurers (ABI)Investment Committee and chairman of that Committee’s CEOPanel.
Keith joined the Aviva group in 1999 as managing director ofNorwich Union Investment Management and stepped into his presentrole in April 2000 following the merger of CGU and Norwich Union.He was previously chief executive of NPI Asset Management,executive director at Lazard Brothers & Co and a director andpartner of James Capel & Co. He has also worked as an economicadvisor to the UK Government and as an economic consultant to theHenley Centre.
Keith holds an MA from Oxford University and MSc from LondonUniversity.
A photo of Keith Jones is available on aviva.com:
Morley Fund Management
Morley FundManagement Limited is the UK-based asset management business ofAviva plc. Firms within the Morley group of companies manage £155bnfrom offices around the world as at 31 May 2006.
Morley manages both institutional and retail funds under the Morleybrand. It also acts as investment manager for a range of retailinvestment funds, marketed in the UK under the Norwich Union brand,and international funds marketed under the Aviva Funds brand.
- Property Fund Manager of the Year, Pensions Management Awards2006
- Best Commitment to Raising Standards of Trustee Education,Engaged Investor Awards 2006
- Property Fund Manager of the Year, Property Week Awards2006
- SRI Provider of the Year, Global Pensions 2006
- Central European Property Awards 2005 - Outstanding Company ofthe Year & Investor of the Year
- UK Pensions Awards 2005 – Property Manager of theYear
- Property Week Awards 2004 – Best Property FundManager
- Pensions Management Provider Awards 2003 – Best PropertyFund Manager
- Fund Manager of the Year - Pensions Week Awards 2002
- Specialist Manager of the Year - UK Pensions Awards 2002
Further information about Morley Fund Management can be found atwww.morleyfm.com