UK-listed Henderson has confirmed that it has embarked on a restructure of its equity team, along with the departure of director of retail global distribution, Mark Skinner after 10 years at the firm.

A headline result of the restructure is that Stephen Peak, manager of the £439 (around $700 million) Henderson UK Alpha Fund, is to hand over management of the fund to Neil Hermon and James Ross at the start of next month.

Peak will thereafter focus on Henderson’s US mutual funds business, as well as having responsibility for the newly-created global equity investment unit. He is also lead portfolio manager of the $570 million European Focus Mutual Fund and the $2.5 billion International Opportunities Mutual Fund, the firm said in a statement.

Hermon is responsible for the UK equity unit within the pan-European equity team at Henderson Global Investors and manages the UK Smaller Companies Fund, as well as the Henderson Smaller Companies Investment Trust.

Hermon, the former head of UK smaller companies at insurer General Accident, where he was head of UK smaller companies, will be supported by Ross in running the UK Alpha vehicle. Ross, who is currently assistant manager for the Henderson European Absolute Return Hedge Fund, first joined the firm as a graduate trainee in 2007 before going on to join the pan-European equities team as a trainee fund manager in 2009.

The moves form part of a wider restructure of Henderson’s equity team, which was previously divided into 18 separate teams, and will now be restructured into four key business areas: global equities, headed up by David Elms and Peak; European equities, lead by John Bennett: multi-asset, overseen by Bill McQuaker; and UK absolute return, with Ben Wallace at the helm.

Amid the restructure, Henderson’s global financials team departed this month; those leaving for pastures new included two analysts and Simon Peters, who led the team. The £65 million (around $103 million) Global Financials Fund will subsequently move into Matthew Beesley’s team, which is currently responsible for global equities at Henderson.

In explaining the restructure, a spokesperson for Henderson cited its recent acquisition of Gartmore and New Star and the firm’s desire to streamline its management structure.

Details of Skinner’s next role have yet to emerge.