Pareto to become part of Insight Investment Management
By Drew Carter | September 14, 2012 2:20 pm
Currency manager Pareto Investment Management will become a unit within LDI specialist Insight Investment Management, confirmed Amanda Williams, Insight spokeswoman.
Michael Shilling, CEO of Pareto, will retire as part of the move, which will see Pareto remain a separately regulated entity. Pareto’s investment staff will become a specialist investment team at Insight, reporting to Adrian Grey, head of fixed income, and Abdallah Nauphal, Insight CEO and chief investment officer.
Pareto and Insight are both subsidiaries of BNY Mellon Asset Management.
The pairing of the London-based managers gives Insight the ability to market its offerings within the U.S. and Asia-Pacific, where Pareto has existing clients.
“It’s not a cost-savings exercise at all,” Ms. Williams explained.
The deal is expected to close on Jan. 1, subject to approval of the U.K. Financial Services Authority.
As of June 30, Insight ran £182 billion ($286 billion), while Pareto ran £27 billion.