Hanneke Smits will become CEO at Newton Investment Management, replacing Helena Morrissey who becomes non-executive chair of the board of directors.
Ms. Smits also joins the board of directors; her appointment as CEO is subject to approval by the Financial Conduct Authority. Mitchell Harris, CEO of parent BNY Mellon Investment Management, becomes interim CEO in the waiting period, said a spokesman for the firm. A time frame was not specified.
Ms. Morrissey, who was appointed CEO in 2001, will continue to serve as an adviser to Newton.
Ms. Smits will be based in London, and will focus on expanding Newton’s presence in key growth markets, said a news release Friday. Newton has £51.8 billion ($67.7 billion) in assets under management.
Ms. Smits was most recently chief investment officer at Adams Street Partners. She left the firm at the end of 2014 following a decision to have a career break and focus on new challenges, said a news release by Adams Street in July 2014. Jeff Diehl, managing partner and head of investments, took on the new title of head of investments in September 2014, a spokesman said.
“(Ms. Smits) has deep investment knowledge, an impressive track record of developing senior leaders and investment professionals, and proven expertise growing a global firm across developed and emerging markets,” said Mr. Harris in the release.
Also in the release, Ms. Morrissey said the time is right for her to move onto the next phase in her career. She will assist Ms. Smits in the coming months, and continue in her role as chair of the U.K. Investment Association among others.