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Katherine Garrett-Cox, one of the a lot of acclaimed women in the
asset administration industry, has been handed the reins at Alliance
Trust, the UK's better generalist investment trust.
Alliance Trust, which is listed on the FTSE 100, appear bygone
that Ms Garrett-Cox – accepted as "Katherine the Great" a part of
adolescent asset managers – had been appointed as the group's new arch
executive.
She replaces Alan Harden, who appear endure ages that he was
resigning from Alliance Assurance to accompany ING Investment
Administration in Asia.
This comes 15 months afterwards she abutting the accumulation
as arch investment officer. She will alpha plan in her new role on
Friday if Mr Harden stands down afterwards four years. Ms Garrett-Cox,
a 40-year-old mother of four, accustomed from Morley Asset Management,
the armamentarium business of Aviva, area she was additionally arch
investment officer.
There she had fostered the able acceptability she had
congenital at Aberdeen Asset Administration and Hill Sam-uel Asset
Administration – area she was aboriginal accustomed the "Katherine the
Great" appellation afterwards getting appointed arch of US equities at
the age of just 26.
By the end of her time at Morley, she was administering £162bn of assets.
Ms Garrett-Cox was poached by Alliance Assurance in May endure
year, in a move that was apparent as a accomplishment for the
Dundee-based trust. She did not appear cheap, however, with a bacon of
about £1m including a acceptable bonus.
She was answerable with developing new business at the assurance and administering its investment strategy.
Mr Harden said at the time of his a lot of cogent appointment:
"Katherine's able acquaintance in asset allocation, her clear-sighted
cardinal access and axiomatic investment abilities set her apart." He
added that at Alliance Assurance "one accomplished being can absolutely
accomplish a difference."
Analysts accept said the armamentarium has underperformed its
rivals in the accomplished few years, admitting attempts to check the
administration strategy, and Ms Garrett-Cox's job will be to lift it
out of the doldrums.
She is beneath no misapprehensions over the issues the aggregation faces.
Known for her aboveboard angle and common access to managing
funds, Ms Garrett-Cox said beforehand this year that the industry bare
to be "bold abundant to bead our acceptable abundance blanket" if it is
to addition returns.
She added that for Alliance, the action "won't appear overnight".
Lesley Knox, administrator of Alliance Trust, said yesterday:
"Katherine has played an basic role on the Board back she abutting us
endure year and has already fabricated cogent accomplish to modernise
Alliance Trust's investment action in her accepted role. The Board and
I are captivated that we accept such a aces almsman to Alan aural our
administration team."
Ms Garrett-Cox said: "Alliance Assurance has an enviable
acceptability based aloft its abiding clue almanac of all-around
disinterestedness investment and I am advantageous to accept the
befalling to reinforce this tradition."
Alliance Trust, which was set up in 1888, now manages assets of about £2.6bn.
Analysts at Cazenove said: "Since accession at Alliance Trust,
Katherine has looked to advance the investment action and accompany in
alien talent, which bodes able-bodied for her advancing time as arch
executive."
Women in allegation in the City
Elizabeth Corley, arch executive, Allianz All-around Investors
There accept been twists and turns ample in the acclaim crunch,
but Ms Corley creates a few of her own. Beyond a career at Merrill
Lynch Investment Managers afore affective to arch Allianz All-around
Investors in 1995, she has accounting four abomination thrillers
including Requiem Mass and Grave Doubts.
Nicola Horlick, arch executive, Bramdean Asset Management
Started as a abecedarian armamentarium administrator at Mercury
Asset Administration in 1984. The mother of 5 formed at Morgan Grenfell
Investment Administration and SG Asset Management, area she was
appointed arch controlling in 2002, afore ambience up the asset
administrator bazaar Bramdean and Bramdiva, a abundance administrator
for women.
Nichola Pease, arch executive, JO Hambro Capital Management
Dubbed the "Posh" to bedmate Crispin Odey's "Becks" in the asset
administration world, Ms Pease, who formed at Kleinwort Benson and
Smith New Court, has accounts in the blood; her ancestor was
administrator of Yorkshire coffer and chastening was one of the
founding families of Barclays.
Anne Richards, arch advice officer, Aberdeen Asset Management
Another alum of Merrill Lynch Investment Managers, as
able-bodied as JP Morgan Investment Management, she abutting Aberdeen
in 2003 afterwards it bought Edinburgh Armamentarium Managers, area she
was aswell arch informationofficer and collective managing director.
Helena Morrissey, arch executive, Newton Asset Management
A avant-garde in all-around investing, accustomed with axis
about Newton back demography allegation in 2001. This year she gave
bearing to her eighth child.
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