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Deals and People July 5, 2001
Newton Execs Take Money and Run
July 5, 2001 (PLANSPONSOR.com) ? Newton Investment
Management, a British fund management company, has lost its
chief executive officer, its chief investment officer and two
fund managers.
Reported by Camilla Klein
The departures follow the payout of deferred bonuses put together when Mellon Financial Corporation’s acquisition of 75% of Newton three years ago, according to a Reuters report.
Jon Groom, the current president of Mellon Global Investments, will replace Chief Executive Colin Harris, who will remain in an advisory role for the next year.
Also departing are chief investment officer Charles Richardson, Newton?s Higher Income fund manager, Toby Thompson, and institutional fund manager Jan Etherden.
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