Foreign and Colonial chooses insider as CEO

Foreign and Colonial Asset Management said it was promoting from within as its head of investment and distribution was revealed as the firm's new Chief Executive.

Foreign and Colonial Asset Management said it was promoting from within as its head of investment and distribution was revealed as the firm's new Chief Executive.

Richard Wilson will take the role from January 1st 2013 and will join the board as an Executive Director with immediate effect, the company said.

He takes charge as the firm continues to implement a strategic review in a bid to stop money flowing away from the fund manager.

At the end of October F&C said assets under management fell by £1.4bn during the previous quarter to £96.8bn.

Wilson has 24 years experience in the fund management industry and is currently responsible for F&C's investment and distribution activities.

Prior to working at F&C he was Head of International Equities at Gartmore and Managing Director, Global Equities at Deutsche Asset Management.

He started his fund management career at HSBC as a Fund Manager.

Executive Director Edward Bramson said Wilson had played a critical role in the development and execution of the group's strategy over the last year.

"I look forward to us working together and continuing to build value for all our stakeholders," he said.

Wilson said with a foundation of a much improved financial position for the group, he was "excited to be given the opportunity to lead F&C and implement our growth strategy to the benefit of our clients, employees and shareholders".

Recommended

The top funds to invest in
Funds

The top funds to invest in

Investors continue to favour passive funds in April though figures reveal an actively managed money market fund also caught their eye. We look at wher…
3 May 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
20 Apr 2023
Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?
Savings

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?

Two fortunate NS&I Premium Bond winners are now millionaires. Find out here if you’re one of them.
1 Jun 2023
The best one-year fixed savings accounts - June 2023
Savings

The best one-year fixed savings accounts - June 2023

You can now earn 5% on 1 year fixed savings accounts - the best rate seen in 14 years. We have all the latest rates available now.
2 Jun 2023
The top healthcare funds to buy
Investments

The top healthcare funds to buy

Increasingly rapid progress in drugs and healthcare technology makes these trusts top tips, says Max King.
1 Jun 2023