Close Brothers Asset Management is set to restructure its investments team as Nancy Curtin, the firm’s CIO, has stepped down.
The fund house announced today (November 11) Ms Curtin would be leaving the company after 10 “very successful” years to “seek new challenges”.
A spokesperson from Close Brothers said Ms Curtin had established an investment arm of the company which had performed well over the years and had been instrumental in supporting the growth and development of the firm.
Following her move, the firm is set to restructure the investments team in an effort to allow for both internal promotions and to bring new talent into the company.
Under the new structure Close Brothers will create three leadership roles which will report directly to Martin Andrew, the chief executive of the asset management arm.
The firm stated: “The new structure reflects the scale of ambition and opportunity Close Brothers has and its continued commitment to retain institutional quality, multi-asset class investment management at the heart of its business.”
Close Brothers is set to move to this new structure immediately to enable the internal promotions to assume their new roles but Ms Curtin will facilitate the transition over the next few weeks.
Ms Curtin said: “It has been an incredible 10 years for me at Close Brothers having the opportunity to establish a strong and successful investment engine and team.
“I am delighted that this new structure creates growth opportunities for my colleagues. I am leaving [the company] and its investment team in great shape and with an exciting future.”
Mr Andrew thanked Ms Curtin for her support, commitment and contribution to Close Brothers, wishing her “every success and happiness in the future”.
The Close Brothers group has had a difficult year so far, with a 3 per cent decline in assets in January and sliding profits in March.
The firm’s chief executive Preben Prebensen resigned in September after 10 years in the role.
imogen.tew@ft.com
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