Management changes in ISIS-F&C deal

Howard Carter, chief executive officer of ISIS Asset Management, London, will become CEO of F&C Asset Management, which ISIS is acquiring from F&C parent Eureko. Robert Jenkins, F&C chief executive, will be non-executive chairman of the new group, according to an announcement today by F&C. Also, two investment officials with F&C will take leadership posts in the combined firm: Alain Grisay, F&C deputy chief executive, will be head of institutional asset management, and Tony Broccardo, current chief investment officer for F&C, will be CIO. The ISIS brand will be dropped, and F&C staff will take responsibility for the combined institutional businesses of the two groups. The combined company will have £120 billion ($218 billion) in assets under management.