Neptune hires ex-Allianz man Lee as sales head

Neptune hires ex-Allianz man Lee as sales head

Neptune has hired former Allianz GI, Edmond de Rothschild and Cazenove UK salesman Dan Lee as it continues to reshuffle its distribution capabilities.

Mr Lee will join Neptune in September as head of UK sales, his appointment marking the "first stage" of a turnaround plan designed by former M&G chief executive Michael McLintock.

He will report to Neptune chief executive Robin Geffen and work alongside Mr McLintock, who was hired by Neptune as a special adviser earlier this year following his retirement from M&G.

Mr McLintock has been formulating a new distribution strategy for Neptune following Charlie Parker's exit to join Sanlam. Last month the fund house said it had scrapped plans to launch a wealth management division.

Mr Lee was previously Edmond de Rothschild Asset Management's head of UK wholesale, but left at the end of 2016 after the firm began a shift away from the UK retail market.

Prior to this he was sales director at Allianz Global Investors and head of UK discretionary sales at Cazenove prior to the latter's acquisition by Schroders.

Neptune said Mr Lee's appointment would sit alongside its decision to outsource part of its distribution efforts to LGBR Capital, helping "broaden Neptune's reach across the IFA community".

Mr Geffen added: "This appointment, along with Michael McLintock, reaffirms our commitment to Neptune’s sales and distribution effort, as we move into a transformative phase for the industry as a whole.

"These senior hires are a key move for the company, enabling our clients to access our fund range, as we ensure the business is resourced and positioned for the future.”