Threadneedle Investments has announces that Head of US Equities, Cormac Weldon, has resigned and will leave the firm in April following full transition of his responsibilities. Portfolio Manager Stephen Moore will also leave Threadneedle.
Diane Sobin becomes Head of US Equities reporting to Leigh Harrison, Head of Equities at Threadneedle. In addition to investing in the London-based team we will increase our collaboration with Columbia Management’s substantial US Equities team.
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Columbia Management is the US-based asset management subsidiary of Threadneedle’s parent company, Ameriprise Financial. This approach will offer our clients the benefit of a fully resourced team that leverages the significant capabilities, intellectual capital and strength of both organisations.
Threadneedle and Columbia manage a combined US$117bn AUM in US Equities, with 56 Portfolio
Managers and 58 analysts located in London, Boston, New York, Minneapolis, Portland, Hartford and Stamford, managing a full range of strategies.
Mark Burgess, chief investment officer at Threadneedle said: "Cormac has decided to leave Threadneedle after 17 years and we wish him well and thank him for his valuable contribution to the firm. Following his departure, we will continue to invest in our London team under Diane’s leadership, while also better and more fully utilising the research resources of Columbia Management. Columbia has a successful and well-resourced US Equities team and there is significant potential to collaborate further in order to enhance both firms’ capabilities in the sector. Threadneedle’s proven investment process is based on collaboration and sharing of ideas to deliver a perspective advantage, and this approach supports and extends that process by making many more US-based resources available to our clients.
"Together, Threadneedle and Columbia now form a greater global capability in this important asset class, offering significantly enhanced depth and breadth of local and international resource, access and expertise. I am confident that under Diane’s leadership, and further drawing on this much broader and deeper US-based resource, we will continue to deliver strong results for our clients."
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By GlobalDataDiane Sobin joined Threadneedle in September 2011 from Columbia Management, where she was a New-York based US Equities Portfolio Manager. Diane has 30 years’ experience in the industry, 28 years managing US Equities.
She joined Columbia Management in 2001, and comanaged large and mid-cap value mutual funds and institutional portfolios. Diane will assume lead manager responsibilities for the Threadneedle American Select Fund. Diane currently comanages the Threadneedle American Smaller Companies Fund along with Cormac and she will assume responsibility for this fund.
Diane will be joined by Nadia Grant, whose appointment was announced on 20 January andwho starts at Threadneedle on 3 February 2014.
Nadia joins from JP Morgan Asset Management where she was a portfolio manager focusing on US equities within the global multi-asset group, managing over US$5bn in multi-asset solutions. They are supported by senior analyst Brad Colton and Client Portfolio Manager Stephane Jeannin.
Nadia Grant will become lead manager of the Threadneedle American Fund¹. Ashish Kocharand Neil Robson will become co-managers of the Threadneedle American Extended AlphaFund and the Threadneedle American Absolute Alpha Fund. Ashish and Neil currently manage the Threadneedle Global Extended Alpha Fund, which has achieved first quartile performance over 1, 3 and 5 years.
Ashish joined Threadneedle in 2008 and has nine years’ experience in asset management. He previously worked as an analyst in the US Equities team. Neil Robson joined Threadneedle in 2011 and has 25 years’ experience as a fund manager covering global equities.
