Mitesh Sheth was named CIO of the multiasset business at Newton Investment Management, said a news release Monday.
Mr. Sheth replaces Curt Custard, who is now CIO of Newton.
In addition, David Cumming and Georgina Cooper will join the firm Tuesday as part of the £2.6 billion ($3.5 billion) U.K. equity team, the news release said. They succeed Charles French and Yuko Takano, who left to pursue other opportunities.
Newton is a subsidiary of BNY Mellon Investment Management. Newton's multiasset business has £51.7 billion in assets under management.
Mr. Sheth will oversee multiasset and fixed-income teams based in London and the quantitative multiasset solutions team in San Francisco. He will report to Newton CEO Euan Munro.
Mr. Sheth was CEO of Redington for five years until leaving at the end of 2021. Zoe Taylor is serving as interim CEO while a search for a permanent CEO is underway.
Mr. Cumming will manage Newton's U.K. equity income strategy and the BNY Mellon U.K. Income Fund. He will report to John Porter, Newton CIO of equities.
Mr. Cumming was CIO of equities for Aviva Investors until June when the section was reorganized.
Ms. Cooper will join the Newton management team for sustainable U.K. opportunities strategies and the BNY Mellon U.K. Equity and BNY Mellon Sustainable U.K. Opportunities funds, and will report to portfolio manager Louise Kernohan.
Ms. Cooper was a U.K. equities portfolio manager at abrdn. Officials at abrdn were not available to provide information about a replacement.
Newton officials were not available for further information.
