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Money Management

Brexit spurs shift in Kames sales structure

Kames Capital is realigns its sales teams ahead of the U.K.'s exit from the European Union.

The move will see the sales team split into two — one covering the U.K., and the other global financial institutions and international sales. The £42.5 billion ($55.9 billion) firm said in a news release Thursday that its sales in continental Europe will be run by parent firm Aegon Asset Management Europe.

Mark Savage will become head of U.K. distribution, a new role. He was head of U.K. wholesale. The U.K. sales unit under his leadership will include both the U.K. institutional and wholesale teams.

Sam Carter will become head of global financial institutions and international sales, responsible for the sales team's efforts with these institutions around the world and further developing the firm's business in the Americas and Switzerland. He was head of global financial institutions.

Richard Dixon was named international sales director, supporting Mr. Carter. He was head of continental sales European wholesale.

A spokesman said changes are effective immediately.

"With the potential changes and challenges Brexit may bring post (March 29), we wanted to ensure that our business model and units are fully aligned with how and where we currently do business and with the clients we serve," said Martin Davis, CEO of Kames Capital and head of Aegon Asset Management Europe, in the release. Spokesmen for Kames Capital could not immediately be reached for comment.