People Moves
Columbia Threadneedle Rejigs Team As Europe Equities Head Steps Down
The global asset management group has made two promotions as its long-serving executive winds down his role.
Columbia Threadneedle has promoted Richard Colwell to head of UK equities and William Davies to head of equities, Europe, Middle East and Africa, as Leigh Harrison prepares to retire after 10 years at the firm.
Harrison will retire at the end of June, having spent the last decade of his 32-year career at the firm, most recently as head of equities, Europe. He has also served as a member of the firm's EMEA executive committee. Harrison previously worked at Credit Suisse.
Colwell, who has worked closely with Harrison since joining Columbia Threadneedle in 2010, became lead manager of the £3.2 billion UK Equity Income fund in September last year. Davies, head of global equities at the firm, will take charge of the UK and European equity teams as well as EMEA-based US, Asia, emerging market and global equity teams. He previously led the European equities team for 12 years. Davies will sit on the firm’s executive committee.
Following Harrison's departure, Iain Richards, head of governance and responsible investment, EMEA, will report to Mark Burgess, chief investment officer, EMEA at Columbia Threadneedle.
“While we are sad to see Leigh go, his retirement has been in the planning for some time and he leaves in place a strong team leader in Richard with whom he has worked for the past six years. The strong legacy Leigh leaves behind is a real credit to him. I’d like to thank Leigh for the substantial contribution he has made over 10 years to our clients, our people and our business,” said Burgess.
Last month saw the departure of the firm's chief executive for Europe, Middle East and Africa, and global chief operating officer, Campbell Fleming. He left for Aberdeen Asset Management. Columbia Threadneedle has yet to announce a replacement for Fleming.
As of the end of March 2016, Columbia Threadneedle managed £323 billion ($464 billion) of assets on behalf of individual, institutional and corporate clients globally.
