Martin Currie Investment Management has hired veteran investor Mark Whitehead to lead its newly formed equity income team, Citywire Global can reveal.
Whitehead will join the Edinburgh-based group in the fourth quarter of 2015 from rival firm Sarasin & Partners, where he was head of global equity income.
He brings with him 17 years of market experience and also served as lead manager on the firm’s global equity income range, which had more than £900 million (€1.2 billion) in assets.
In his new capacity, Whitehead will report to the Martin Currie’s head of investment, John Pickard.
The appointment of Whitehead coincides with Martin Currie opting to form a standalone equity income unit. This is after assets in income-focused funds rose to £517.4 million (€710.75 million) within its broader equity fund range.
The group, which is a subsidiary of Legg Mason, has therefore undergone some restructuring and reallocated staff to form this new department.
Among those seconded to the equity income team are Alan Porter, Ross Watson and David Forsyth. Forsyth and Watson currently run the Martin Currie European Equity Income fund, while Porter manages the Martin Currie Global Equity Income fund.
Commenting on the appointment, John Pickard, head of investment at Martin Currie said: ‘Mark has an outstanding track record of running global equity income strategies and his appointment will significantly deepen our resource and help us to build upon this growing asset class as we strive to establish ourselves as a fund provider of choice in this area.’