Ciba Specialty Chemical U.K. Pensions Scheme, Macclesfield, England, hired AXA Rosenberg Investment Management to run £44 million ($64 million) in pan-European equities. Incumbent J.P. Morgan Fleming was terminated following a routine performance review by the £449 million plan, said Sally Seed, plan spokeswoman. She would not give further details. Arno Kitts, head of U.K. institutional business at J.P Morgan Fleming, said the firm does not comment on client relations.
This is AXA Rosenberg’s first hire by a U.K. client to manage a pan-European equity mandate that includes U.K. investments, Jennie Paterson, AXA Rosenberg CEO, said in a statement.
William M. Mercer advised.