Henderson equity overhaul sees financials team exit

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Henderson Global Investors has created a new global equity investment unit as it aims to simplify its fund offering and process.

Its restructuring initiative has also led to the departure of its financials team, headed by Simon Peters who ran its Henderson Global Financials fund, which has now been passed onto Matthew Beesley.

The firm has appointed Stephen Peak to head up the firm’s new global equities team and the move forms part of a broader restructure of Henderson’s equity team which will be divided into four main divisions: European equities under John Bennett, multi-asset under Bill McQuaker, absolute return headed by David Elms, alongside Stephen Peak's new dedicated global equity investment unit.

A spokesperson for Henderson GI told Citywire Global the changes had been made to simplify their offering and make its management team structure more straightforward for clients to grasp.

Peak previously managed the group’s Henderson UK Alpha fund, which has now been passed to Neil Harmon, and his new role will also see him focus on Henderson's growing US mutual funds business, where he runs the $2.5 billion International Opportunities fund. 

News of the restructure follows the departure of two of the firm's star managers, Euro Stars A-rated manager Bill Stormont and Alternative Ucits A-rated manager Paul Casson, earlier this month.

Global equity fusion

The firm has also decided to merge its emerging markets and Asia team, headed up by Chris Palmer and John Crawford, respectively.

This sub-division of its newly-formed global equities unit, which will bring together a large portion of the firm’s equity teams under one team, will be led in the interim by Graham Kitchen until a new head is appointed.

The global equities team will also incorporate the global technology team, led by Euro Stars A-rated manager Stuart O’Gorman and Ian Warmerdam, global property securities under Patrick Sumner, global equity income headed by Alex Cooke and global equity under Beesley.