Rash Patel left MFS Investment Management, where he was director of U.K. and Ireland sales, confirmed a spokesman for the firm.
His departure followed a review and reorganization of the U.K. institutional business, the spokesman said.
In a statement provided to Pensions & Investments, MFS said: “Following a review of needs for our U.K. institutional business, we are reorganizing our U.K. team. We will be hiring a new head of U.K. with a broad strategic focus on our U.K. institutional business. James Lindsay will head up U.K. business development; Rash Patel has left to pursue other interests.”
MFS, with $420 billion in assets, is looking for someone with “significant industry experience and a very good understanding of the U.K. institutional market,” said the spokesman.
Mr. Lindsay previously covered EMEA consultant relations. His new role is both U.K. direct sales and consultant relations. He will work closely with David Mace, head of Europe, the Middle East and Africa, and Ravi Venkataraman, head of global consultant relations.
Mr. Patel could not be reached for comment by press time.