Quilter Investors today announced the appointment of Marcus Brookes as chief investment officer (CIO).
He will succeed Bambos Hambi as head of Quilter Investors’ portfolio management desk which runs £25.2bn worth of assets throughout 65 active funds.
Hambi held the position for just over a year, having previously been of multi-media strategies at abrdn for almost 10 years, where he ran the highly successful Myfolio range. He plans to retire by the end of this year.
Brookes will leave Schroders after more than 13 years, the last three of which he was CIO at Schroder Personal Wealth.
He joined the wealth management branch of the company as head of multi-manger in 2008 following its merger with Cazenove, where he ran the Schroder MM range of multi-manager portfolios, before moving to the financial planning service run jointly with Lloyds Banking Group in 2017.
Steven Levin, CEO of Quilter Investors, said Brookes had “extensive experience in investment management” and had expertise in running multi-asset funds.
The Quilter group runs £108.5bn in customer investments across all its platforms.
Quilter Investors’ funds have been a mixed bag over the past year. Although 85% of its 65 funds making a positive return in 2021, of the 43 funds in sectors where quartile comparisons are appropriate, 13 have made bottom-quartile returns, while just seven have been in the top 25% of their peer group.
The £150m Ethical Equity fund, which sits in the IA Global universe, has been the best performer in 2021, up 29.1%.