Arnab Banerji will become CIO of London-based Foreign & Colonial Group as a result of an internal restructuring following last year's buy-out of minority stakes in Foreign & Colonial Emerging Markets and the acquisition of ESN, manager of the £14 billion ($23 billion) Electricity Supply Pension Scheme. He had been CIO of F&C Emerging Markets. David Manning, now investment director in charge of ESN, will be deputy CIO. Tony Thomson, CIO at Foreign & Colonial Management, will leave the firm in the next few months.
Paul Guidone, previously chief executive and CIO worldwide at HSBC Asset Management, was named deputy chairman, a new position. He retains his title as CIO. Robert Duggins, previously chief executive of the Asia Pacific region and managing director of retail operations, became a deputy chairman and CEO of HSBC Asset Management worldwide. Mr. Guidone will focus on the investment side of the business; Mr. Duggins will head broader management, marketing and sales.
Angela DeRosa, formerly COO of the Americas, becomes chief executive for the Americas. Following Mr. Duggins' move to London, Paul Chow, now deputy chief executive for Hong Kong, will take over some of Mr. Duggins' responsibilities there