Prudential has announced that Barry Stowe is to retire as chairman and chief executive of its North American business unit and as an executive director of the company on 31 December.
JP Morgan’s Michael Falcon is to succeed him, assuming his new role on 7 January 2019. Stowe will remain as an adviser to the group.
Falcon has almost two decades of senior experience in the savings and retirement industry. He was chief executive of JP Morgan Asset Management’s retirement businesses in the US and currently leads the firm’s asset management businesses in Asia. He has also served as head of Merrill Lynch’s Retirement Group.
Paul Manduca, chairman of Prudential, said: “Barry’s experience, expertise and leadership have played an important part in the success of the group throughout his time with us. Michael has a wealth of experience from a distinguished career in the savings and retirement industry and I look forward to working with him in the future.”
Nick Burgess has been appointed as head of AllianceBernstein’s (AB’s) product strategy and development, EMEA, division.
Burgess will be responsible for advocating for AB’s product lineup market in the EMEA region, with an initial focus on understanding product needs for the retail market.
Burgess, who will be based in London, has 10 years’ industry experience, most recently at Aberdeen Standard where he was product development manager for six years.
The team was recently bolstered with the hire of Ethan Lenoff, who joined in September. Lenoff previously worked at Greenwich Associates.
Seven Investment Management
Seven Investment Management (7IM) has hired Martyn Surguy as chief investment officer.
Prior to joining 7IM, Surguy was head of investment management at Credit Suisse UK.
His previous roles include CIO, private wealth management division for EMEA at Morgan Stanley. Prior to that he spent 16 years at Morgan Grenfell/Deutsche Bank, latterly as CIO international and head of portfolio management UK.
Financial Services Compensation Scheme
Mark Neale, chief Executive of the Financial Services Compensation Scheme (FSCS), will step down on 3 May 2019 after nine years in the role.
In an announcement to staff, he said: “I have decided to stand down when my third, three-year term as a director comes to an end next May. I haven’t taken this decision because of any diminished commitment to FSCS… But I think it is the right time to move on. I firmly believe that any organisation needs new leadership after nine years.”
Loomis, Sayles & Company, an affiliate of Natixis Investment Managers, has named Aziz Hamzaogullari as chief investment officer of its Growth Equity Strategies (GES) team, which includes the Loomis Sayles Large Cap Growth, All Cap Growth and Global Growth portfolios.
This appointment, said the firm, is “in recognition of his important and valuable thought leadership as well as the significant contribution that growth equity strategies has made to the Loomis Sayles equity platform”.
Hamzaogullari, the founder of the team’s investment philosophy and process, will retain his portfolio management role.
Barclays Wealth Management
Barclays Wealth Management has appointed Robin Taylor as head of its South Central division as it continues to expand its operations across the UK.
Taylor, who has over 25 years of industry experience, will be responsible for more than £700m ($920m, €795m) of client assets across the South Central region, which includes both Bournemouth and Southampton.
Taylor has been at Barclays Wealth since 2007. The move comes at a time of expansion for the team, with two new hires also joining.
Jane Stokes joined in April this year as a wealth manager within the Bournemouth team, having returned home from Australasia, while Karan Berry also joins as a wealth manager, having previously worked for Société Générale.