LONDON -- Morley Fund Management hired a seven-person team of investment managers specializing in socially responsible investments from Henderson Investors.
Clare Brook, director of socially responsible investments for Henderson, was named investment director-socially responsible investments at Morley. Paul Moody, who was head of business development for socially responsible investments at Henderson, will have a similar role at Morley.
Other team members are Linnet Cotterill, fund manager; Peter Michaelis, assistant fund manager; and research analysts Tony Belsom, Fiona Cuthbert and Jo Johnston.
The team plans on joining Morley by the end of the year, depending on their contractual agreements with Henderson, said Keith Jones, Morley managing director.
The team was managing just more than 1 billion ($1.5 billion) at Henderson, said a spokeswoman for Henderson who asked not to be identified.
Diageo nearing end of search for custodian
LONDON -- The Diageo PLC Pension Trust is choosing finalists in its search for a global custodian, said Steve Mingle, group pensions director for the 3.5 billion ($5.3 billion) fund. Incumbent Bank of New York is rebidding.
Trustees are expected to make a decision by late September, said Mr. Mingle.
Reviewing the custodian was the final step in a restructuring of the plan, which was formed through last year's merger of the pension plans of Grand Metropolitan PLC and Guinness PLC, both of London.
Bacon & Woodrow, London, is advising.
Mellon venture to sell 401(k)-type plans in Brazil
PITTSBURGH -- Mellon Financial Corp. has formed an alliance in Brazil to market defined contribution pension funds that will be marketed under the Mellon brand name through a Brazilian insurance company.
The series of 401(k)-style plans will be managed by Mellon's asset management joint venture, Dreyfus Brascan Asset Management. The fund will be marketed by Vera Cruz Vida e Previdencia, a Brazilian insurance company and early pension fund provider.
Dreyfus Brascan Asset Management is a joint venture between Mellon and Banco Brascan, a Rio de Janeiro-based investment bank. It has about $1.4 billion in assets under management.
Valeiras to lead global core equity at MSDWIM
LONDON -- Horacio Valeiras has been appointed managing director-global core equity at Morgan Stanley Dean Witter Investment Management in London, a new position.
He will be in charge of a global core equity team and be responsible for providing tactical asset allocation advice for a range of balanced investment strategies to be launched this year.
He was managing director and senior portfolio manager for the firm, responsible for TAA in New York.
Consultant Freeman buys stake in Sector Analysis
NEW YORK -- Freeman & Co. LLC, a New York-based consulting firm specializing in investment management and investment banking, acquired a 66%majority equity share in Sector Analysis Ltd., a London-based research firm that provides information to global asset managers about European customer demand and buying practices. Eric Weber, head of Freeman's asset management practice, declined to say how much Freeman paid for its majority share. Mr. Weber and Jim Freeman, company founder, will become Sector Analysis directors. There will be no additional personnel changes, Mr. Weber said. The companies will work closely to expand, develop and integrate some of their product lines, Mr. Freeman said.
Sector Analysis founders Magnus Spence and Angela Hornberg and other members of the management team eventually may hold up to 49%of the equity of the company, Mr. Weber said.
Mr. Weber would not identify any of Freeman's clients, but Sector Analysis' client list includes American companies such as American Century Investment, American Express Bank, Citibank NA, Fidelity Investments, J.P. Morgan Investment Management and the Vanguard Group, as well as European clients such as Allianz Asset Management, DGZ Dekabank, Gartmore Investment Management and Swiss Life (U.K.).
