Radical changes to the retail business models are continuing with the announcement of more big-league appointments by major fund houses to their distribution channels.
L&G Investment Management has appointed former Jupiter heavyweight Simon Hynes as head of UK retail sales as part of efforts to focus on the adviser market, Honor Solomon has said.
“The UK as ever is a core focus for us. Mr Hynes is highly experienced in UK sales and relationship management across IFAs, platforms and discretionary clients and is highly thought of by many of our partners,” the firm’s head of retail distribution Emea said.
Mr Hynes was previously global head of distribution at Jupiter Fund Management, where he fulfilled a number of senior management roles from 2002 until leaving in July 2014 on sabbatical.
His recruitment follows a restructuring of LGIM’s retail distribution proposition.
Mr Hynes said: “The UK retail market is changing fast in response to regulation and pensions reforms, and by working more closely with advisers and distributors, I firmly believe we can be at the forefront of delivery of the investment solutions UK investors require today.”
It came as Henderson Global Investors announced it had promoted Greg Jones to managing director of distribution.
The move will increase the global responsibilities of the former head of Emea retail and Latin America, while he maintains oversight of the pan-European and Latin American regions.
Phil Wagstaff, global head of distribution, said: “With over 25 per cent of Henderson’s staff globally in distribution, it sits at the heart of our business, and collaboration is critical to success.”
Background
As part of plans to restructure following the retirement of L&G’s Assurance Society executive director and chief executive John Pollock, the £10bn AUM DC platform moved to LGIM last November.
In June 2014, multi-manager duo Tim Gardner and Alan Thein left the business following a restructure.
