Smith & Williamson fund of funds manager Nick Marshall has been made redundant following a review of the firm’s fund offerings by Ed Rosengarten.
Mr Marshall had been a co-manager on the Smith & Williamson MM Endurance Balanced fund, with primary responsibility for researching open-ended funds.
He has been made redundant after a review from Mr Rosengarten, who joined Smith & Williamson in May as head of funds business, which concluded it was no longer necessary to have an open-ended fund expert managing the multi-manager funds.
Instead, the main open-ended fund research will continue to be done by the firm’s private client managers, with various managers given a certain sector to research in addition to their management responsibilities.
Smith & Williamson will also bring in an analyst for its multi-manager team to concentrate on open-ended funds.
James Burns, who is head of multi-manager and co-manages the Endurance Balanced fund with Mr Marshall, has taken over as lead manager on the fund.
He was already lead manager on the MM Cautious Growth and MM Global Investment funds, both of which are funds of investment trusts, which is Mr Burns’ area of expertise.
Genevra Banszky von Ambroz, who joined Smith & Williamson on its graduate scheme in 2008, has been made assistant manager on the MM Endurance Balanced fund, having held the same role on the MM Cautious Growth and MM Global Investment funds since January 2014.
