Threadneedle appoints Fleming CEO in management reshuffle

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Threadneedle's head of distribution Campbell Fleming has snapped up the top role at the investment house, with chief Crispin Henderson moving on to take over as vice chair of Threadneedle's parent Ameriprise.

After a handover period, Fleming will take over as chief, reporting into Ted Truscott, chief executive officer (CEO) of Global Asset Management for Ameriprise.

The changes are subject to regulatory approval.

Henderson has served as Threadneedle's chief executive since 2007 and prior to that had been chief operating officer at the company from 2002.

Meanwhile, Fleming joined Threadneedle as head of distribution in 2009 from JP Morgan Asset Management, where he had been managing director.

Since joining he has directed the company's global sales, marketing and product development efforts, alongside sitting on the firm's executive committee.

Commenting on the reshuffle, Fleming (pictured) said: 'I am greatly appreciative of the opportunity to lead Threadneedle at this exciting time in the company’s development.'

He added that he looks forward to working with Truscott, Henderson and team and recognised the support Threadneedle has enjoyed from its parent Ameriprise Financial.

Henderson added: 'I have enjoyed being part of Threadneedle’s successful development over the past 10 years and am excited by this new opportunity. I am delighted Campbell will lead Threadneedle and have the greatest confidence in his leadership, business acumen and deep understanding of our clients and our business.'

Ameriprise's Truscott added: 'Over the past year, Crispin has had discussions about opportunities to transition to a role that offered broader input across our global asset management businesses.'

'This new role is ideally suited for him — Crispin has a deep understanding of operations and will partner across our technology and operations functions to create a strategic blueprint that will increase efficiency and operational effectiveness. Crispin will also advise Campbell on certain of Threadneedle’s larger and longer-term client and vendor relationships that he has been involved in forming and developing.'

Threadneedle currently runs around €95 billion in assets, while its parent Ameriprise has over $678 billion in owned, managed and administered assets.