Marty Flanagan will retire as president and chief executive of the investment giant on 30 June 2023.

He will continue as chairman emeritus until 31 Dec 2024, providing advice and guidance to the company.

The Invesco board of directors named Andrew Schlossberg, senior managing director and head of the Americas, to succeed Flanagan.

Schlossberg has been in the asset management industry since 1996 and with Invesco since 2001. He has served in multiple leadership roles across the company’s businesses and locations. Prior to his current position, he was based in Invesco’s UK office as senior managing director, head of Emea and chair of the board of Invesco UK.

Before the UK, he served as head of US retail distribution and global ETFs and, prior to that, was US chief marketing officer and head of global corporate development.

Doug Sharp, senior managing director and head of Emea, will assume an expanded leadership role as head of the Americas and Emea, and global responsibility for ETFs, SMAs and digital capabilities.

Sharp has served in his current role since 2019. He joined Invesco in 2008 from McKinsey & Co and has served in multiple leadership roles across the firm.

Invesco also announced that Stephanie Butcher, chief investment officer of Emea, and Tony Wong, global head of fixed income investments, have been named senior managing directors and co-heads of investments.

In addition, Greg McGreevey, senior managing director of investments, has decided to retire from the firm. He will serve as an advisor to Butcher, Wong and the firm on investment topics through 31 March 2023.

Russell Investments

The firm has hired Zach Buchwald as its next chief executive.

He is the former head of Blackrock’s North America institutional business.

Buchwald takes up the mantle from Michelle Seitz, who left the position towards the end of last year. Buchwald will be tasked with overseeing the firm’s growth plans.

Hampden & Co

The private bank has named Peter Craigie as chief risk officer and Gordon Syme as general counsel.

Craigie was at Lloyds Banking Group, where he was chief risk officer for islands banking.

Syme has joined from Aegon Asset Management, where he was head of legal and regulatory (UK).

Legal and General Investment Management (LGIM)

The investment firm has hired James Giblin as a fund manager in its asset allocation team.

Giblin, who joins after a three-and-a-half year spell at LGT Wealth Management, will be responsible for managing a range of retail multi-asset funds, as well as several client portfolios in its model portfolio service (MPS).

LGT Wealth Management

The UK wealth manager has appointed Lewis Gregory to its MPS team as portfolio manager.

Gregory was previously an investment manager at Mercer Private Wealth where he was responsible for managing multi-asset portfolios and goal-orientated portfolios for wealthy UK-based clients.

Rothschild & Co

The financial services giant has hired Guillermo Moreno Fontaneda as a senior client adviser to bolster its wealth management offering in Spain.

He joins from UBS, where he was a director and client adviser, private banking Iberia.

Cohen & Steers

The global investment manager has appointed Sean Cooney to the newly created role of head of UK wealth.

Cooney joined Cohen & Steers in May 2021 as senior director of Emea wholesale distribution from Gam, where he was client director for the UK wholesale distribution channel.

Rathbones Group

Tracey Williamson has joined the firm as regional manager of financial planning, according to her Linkedin profile.

She will be based in Scotland. Williamson was previously financial planning director at Forth Capital.

Burges Salmon

The UK law firm has appointed Suzanna Harvey as head of its private wealth sector.

Harvey specialises in tax, trusts, immigration and estate planning for international clients (both UK resident and non-resident) and provides tax advice to a wide range of clients, from ultra-high net worth individuals to private banks and other financial institutions.

She has been at the firm for 17 years.

Melbourne Capital Group

The expat advice firm has named Elmira Donald as private wealth manager and financial planner.

She is based in Kuala Lumpur, Malaysia.

Donald joins from Infinity Financial Solutions, where she was financial planner and client relationship consultant.

The UK advice firm has announced that Martin Andrew has decided to step down from his role as chief executive to pursue other opportunities

He has been with CBAM for 16 years, the last 13 of which as chief executive.

Andrew will remain with the business until the spring 2022 to ensure a smooth succession. The search for a successor is underway and an announcement will be made in due course.

Credit Suisse

The Swiss headquartered bank has announced that Francois Monnet, head of private banking north Asia and chief executive of Hong Kong will retire on 31 December 2021.

Monnet spent 14 years at the bank.

In other news, Credit Suisse has strengthened in wealth management in Asia Pacific.

Benjamin Cavalli has been named head of wealth management Asia Pacific. He is currently head of private banking (PB) south Asia, Singapore chief executive and Apac sustainability leader.

Jinyee Young has been appointed deputy head of wealth management Asia Pacific. Young is currently market group head for private banking Singapore, Malaysia and south Asia Switzerland – a Zurich-based team serving clients in south Asia.

Lastly, Chien Chien Wong appointed chief executive for Credit Suisse in Singapore – in addition to her current role as the chief operating officer for Asia Pacific.

The Openwork Partnership

The advice network is currently recruiting for a chief commercial officer to replace Mike Morrow, who is leaving in February for a new opportunity after six years at the group.

In other news, Openwork has named Stuart Dodson as managing director.

He was previously managing director at Openwork member firm Newcastle Financial Advisers.

Dodson will be supported by Liam Richards. who has been promoted to strategic partner director to work with larger firms in the network from his current role as sales director at Owl Financial, the Openwork Partnership’s specialist protection advice business.

Artemis Investment Management

Paras Anand will join the investment firm as chief investment officer in early 2022.

He is currently chief investment officer for the Asia Pacific region at Fidelity International.

Anand will be replacing Matthew Beesley, who will be leaving Artemis at the end of this year.

Blackfinch Group

The independent investment firm has expanded its senior leadership team by recruiting Caroline Hallatt as chief operating officer

Hallatt joins from St James’s Place, where she was an executive director.

Standard Chartered

The banking group has hired Bongiwe Gangeni as head of consumer, private and business banking (CPBB) for Africa, Middle East, and Europe.

Gangeni will be based in Dubai,when she joins the Bank in March 2022.

She is joining Standard Chartered from Absa, where she spent the last 14 years, most recently as a member of the group executive committee, with the dual roles of deputy chief executive for retail and business banking, and head of relationship banking.

IWP

The IFA firm has named Rob Allen as managing director and David Shiel as marketing director.

Allen was previously managing director, commercial and business banking at Williams & Glyn, part of RBS.

Shiel was most recently as chief marketing officer at Cogress, a property and hotel investment company.

Jersey Financial Services Commission

The Jersey regulator has named Farooq Naeem as director of supervisory strategy and oversight and Sally Rochester as interim executive director of supervision.

Prior to joining the organisation, Naeem worked in the financial services industry for more than 21 years, including the last 11 at international regulators across the UK and the Middle East.

Rochester was previously director at Deloitte, where she supports the Crown Dependencies and Gibraltar clients and regulators with risk and regulatory services.

BNY Mellon Investment Management

The investment manager has appointed Matt Shafer as head of European distribution.

Shafer joins the firm from Natixis Investment Managers, where he was head of international distribution covering financial institutions, intermediary and retail markets, and captive assets.

Cohen & Steers

The global investment manager has named Jeffrey Palma to the role of senior vice president and head of multi-asset solutions.

Palma joins from State Street Global Advisors, where he was a managing director and head of public investments.

Gresham House

The specialist alternative asset manager has appointed Jonathan Walker and Rosie French to its sustainable investment team.

They join as sustainable investment managers.

Walker previously worked at Morgan Stanley, most recently as a research analyst within the sustainability research team, while French joins from Aberdeen Standard Investments, where she was an ESG Analyst for the European equities team.

TMF Group

The financial services firm has bolstered its support for clients looking to develop their ESG plans with the appointment of Flavia Micilotta as director of ESG solutions.

Prior to joining TMF Group, she led the sustainability practice at Deloitte in Luxembourg.

The banking group has named Gabriele D’Agosta as head of private banking Italy and chief executive of Credit Suisse (Italy).

He will succeed Giorgio Vio. D’Agosta was most recently at UBS.

In addition, a number of relationship managers have recently joined Credit Suisse’s wealth management team in Italy.

Edoardo Ravano, Andrea Di Carlo and Edoardo Longhini all recently joined Credit Suisse Italy’s wealth management team as senior relationship managers in Milan, while Matteo Carraro and Roberto Bettati joined as senior relationship managers in Padua.

Ginevra Calegari d’Oria joined as a tied agent and Stefano Mussati will soon join the team as an investment expert based in Milan.

Vincenzo De Falco, head of IWM investment banking advisory coverage Europe, who will now be based in Milan.

De Falco was appointed to his role in January 2021, based in Zurich. He will continue to serve clients across Europe.

Royal London

The financial services firm has hired Vidur Bahree as group investment director.

Bahree was most recently senior adviser at Boston Consulting Group and consultant at Just Group.

He was also group investment director at Aviva.

HSBC

The bank has appointed Laura Geiger-Pancera as ultra-high net worth (UHNW) family office director.

She will lead the private bank’s single family office division in Switzerland.

Geiger-Pancera was previously at UBS, where she most recently led the global UHNW client strategy office.

Cohen & Steers

The global investment has appointed Sean Cooney to the role of senior director, Emea wholesale distribution.

Cooney joins Cohen & Steers from GAM Investments, where he was client director for the UK wholesale distribution channel.

Sandringham Financial Partners

Mike Davies has joined the IFA firm as a advising partner from Positive Solutions, where he was a financial adviser for nearly 20 years.

He is based in Burscough and has been working in the financial services industry for 27 years.

Davies specialises in pensions, investments and equity release.

RBS International

Philip Prideaux has been promoted as director to drive the bank’s Luxembourg funds banking offering.

He was previously an associate director on the UK private equity team.

IQ-EQ

The global investor services group has made three senior appointments to its group technology team.

William Harris joins the group as chief digital officer, Shezad Khan becomes head of data and analytics and Vikas Sharma joins as head of engineering.

Prior to IQ-EQ, Harris was director and head of intelligent automation & AI for the Emea region with ISG, a global technology research and advisory firm.

Khan was global head of advanced analytics for HSBC, while Sharma was head of technology for Smart Currency Exchange.

Asset Risk Consultants

The investment research and advice firm has hired Paul Kearney to its senior management team.

Kearney, who will join the London office in July and sit on the board, will be responsible for driving the group’s strategic growth initiatives.

Prior to joining ARC, he was group commercial director and head of private banking at Kleinwort Hambros.

Adam Winslow will become chief executive of international at the insurance giant.

He will take on the newly created role in January 2021 and be responsible for the firm’s international business in continental Europe and Asia.

He is currently chief executive of global life insurance at AIG.

Additionally, Stephen Doherty will become chief brand and corporate affairs officer, effective from March 2021.

At the moment, he works as managing director, group head of corporate relations at Barclays.

BNP Paribas Asset Management

The asset management arm of the French bank promoted Daniel Klein to global head of client services, based in Paris.

Effective from 1 January 2021, he will be responsible for enhancing client services across all regions.

Klein has been at BNP Paribas for more than 27 years, with the last 18 at BNP Paribas Asset Management.

Most recently, he was chief executive of the US business and head of sales for north America.

Holborn Assets

The UAE-based firm has recruited Judith Worthy as group chief financial officer.

She previously held a similar position, on an interim basis, at UK financial planning business Openwork.

AMP Capital

Craig Keary has left the role of Apac managing director, he said on Linkedin.

According to local reports, AMP Capital said that the role is no longer needed at the firm, as it looks to strengthen its private markets business.

He spent the last three years in Japan working for the company.

RWC Partners

Stefan Hirter will join the independent asset management firm as head of business development for Switzerland.

He was previously at Fidelity International, where he served as head of sales for Switzerland and Liechtenstein.

Rathbone Investment Management

Laura Dempsey and Ben Shaw have become financial planners through the firm’s training programme.

They both joined in 2017, when the scheme was introduced.

Raymond James

The wealth firm has named Simon Howland as branch principal of its newly opened office in Wanstead, east London.

He spent the last 12 years at Killik & Co as an associate investment director.

The branch will provide discretionary managed portfolio services to clients across the UK.

Gam

The investment firm has recruited Matt Williams as head of equity investment specialists, a newly created role based in London.

He was previously at Blackrock, where he worked as a director and European equities product strategist.

Conquest

The alternative asset manager has promoted Emma Barnes to director and member of the executive committee.

She was vice president of finance and will now be in charge of finance, risk and regulation.

Cohen & Steers

The global investment manager has named Greg Bottjer as executive vice president and head of global product strategy and development.

He was most recently senior managing director and head of product management and development at Nuveen.

The key question is can it continue into this year and beyond, and how is it translating into opportunities at the stock market level after a 2017, which saw the Euro Stoxx Index return 13.37% in euro terms?

The economy

According to Chris Hiorns, manager of the Amity European fund at EdenTree Investment Management, the fundamentals of the European economy remain strong, with additional room for growth.

“The European economy is at a much earlier stage in its cycle than the US and unemployment has yet to meaningfully fall in many parts of the eurozone, while wages have yet to rise,” he says.

Hartwig Kos, manager of the OYSTER Diversified GBP fund, notes that many of Europe’s headwinds have started to fade over the past year to 18 months, while monetary conditions have remained accommodative. This, he says, has clearly helped domestic consumption and investment, which is translating into strong economic growth.

“The ECB has barely started to roll down the ’emergency’ monetary policy measures, implemented in the aftermath of the sovereign debt crisis to protect the euro bloc from collapsing,” Kos says.

“Despite the strong pickup in activity, inflationary pressures in Europe have so far remained muted – but question marks about ECB policy are undoubtedly rising. Therein lies the risk for European equities.”

A key concern for Europe last year, was political risk, with several nations going to the polls, however for Hiorns, this risk is largely overblown.

“In fact, our major political concern is the spectre of instability in Germany, as its uneasy coalition settles into governing,” he says. “The general rise of populism across the region has prompted the political class to pay more attention to wages and employment, which should be broadly supportive for the broad economy and consumer-led stocks.”

Stuart Mitchell, manager of the SW Mitchell Capital European fund, notes the political backdrop in the eurozone is more stable than many in the Anglo-Saxon world perceive.

“President Macron, for example, has been able to pass his controversial labour market reforms,” Mitchell says. “These revolutionary changes include the decentralisation of collective wage bargaining.

“This will particularly benefit businesses with fewer than 50 employees – which is 95% of all French businesses – by allowing management to negotiate directly with employees, rather than through a union body. Other changes include a cap on severance pay and easier redundancy rules for French employees of international companies.”

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