Swiss-based SYZ Asset Management has named Michael Clements as new head of European equities, replacing Eric Bendahan.
In his new role, Clements will oversee the London-based team of fund managers and analysts and will manage the OYSTER European Opportunities, OYSTER European Selection and OYSTER Continental European Selection funds.
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Clements joined SYZ Asset Management from Franklin Templeton, where he worked for six years.
Additionally, the firm has also hired Claire Manson from Franklin Templeton to manage the OYSTER European Mid & Small Cap fund, replacing William Sharp.
At the same time, Bendahan will launch his new venture called Eleva Capital. He is also planning to launch a Luxembourg UCITS Pan-European, long only Equity fund in Q4 2014 subject to FCA and CSSF approvals.
Bendahan earlier managed EUR2.5 billion ($3.23 billion) in European equities at Banque Syz & Co.
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By GlobalDataEric Syz, CEO of SYZ Group and head of SYZ Asset Management, said: "Michael Clements is one of those rare investors whose style rests on the management of convictions based on fundamental research. This approach is perfectly in line with our DNA and his results have been recognized by numerous awards."
