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Liontrust moves to retain fund manager talent

Fund manager seeks to bring pay of Walker Crips managers in line with existing fund management teams.

By Nick Reeve | Published Aug 13, 2012 | comments

Liontrust has asked its shareholders to approve an increase in its senior incentive plan to include new hires Jan Luthman, Stephen Bailey and Jamie Clark.

The trio moved across to Liontrust when the fund manager bought the asset management arm of Walker Crips in April.

Shareholders will vote at Liontrust’s September annual general meeting regarding whether or not to expand the current incentive scheme, introduced in January 2011, by 1.9m shares, in order to “closely align their interests with those of shareholders”.

The notice to shareholders sent out last week by Liontrust stated: “Although the sensitivities of addressing fund manager remuneration at this current stage of the Company’s development are acknowledged, this needs to be balanced with the strategic risks of failing to retain key fund managers and key executives, who are important to driving shareholder value.”

In 2009 Liontrust star equity income managers Jeremy Lang and William Pattisson quit the company - later setting up Ardevora Asset Management - in a move which triggered waves of outflows and a slump in Liontrust’s share price.

Since then the company has sought to rebuild, with Anthony Cross and Julian Fosh succeeding Mr Lang and Mr Pattisson as Liontrust’s star duo. It acquired emerging markets boutique Occam in August 2011, before completing the Walker Crips deal earlier this year.

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