Newton Investment Management, London, will begin offering its equity and fixed-income strategies to U.S. institutional investors this quarter, said Helena Morrissey, CEO.
Newton, a subsidiary of Mellon Financial, manages roughly $50 billion in international, global and European equities and global fixed income for U.K. investors. Ms. Morrissey said Newton will introduce the international equity strategy to U.S. investors first and will stagger other offerings accordingly.
Newton hired Ciaran Spillane to lead the U.S. expansion. Mr. Spillane will be the head of U.S. business based out of Uniondale, N.Y. Prior to joining Newton, Mr. Spillane was director of client service at Iridian Asset Management, a subsidiary of the Bank of Ireland. Alice Hicks, spokeswoman for Iridian, was not immediately available for comment on a replacement.
Ms. Morrissey said Newton recently established a 10-year track record for each of its strategies. The maturity of the strategies, coupled with the growing demands for international strategies from U.S. investors, prompted the firm's expansion into the U.S.