Brian Mitchell, head of dealing and transaction cost analysis at Baring Asset Management, will join rival asset management firm Gartmore as head of dealing in mid-January 2010.
Mitchell, who leaves Baring after an 11-year tenure as head of dealing, will be responsible for overseeing all Gartmore’s trading activities in London, Tokyo and Boston, including equities, derivatives, fixed income and foreign exchange. He will report to Dominic Rossi, Gartmore’s chief investment officer.
The head of dealing is a newly-created position at Gartmore, which has a ‘multi-boutique’ structure of investment teams. It is understood that Mitchell’s job will be to reinforce oversight of established procedures and interaction with internal compliance and risk functions as well as helping Gartmore develop its trading function. Mitchell will also spend time on corporate governance and transaction cost analysis.
TheTRADEnews.com understands Mitchell is leaving Baring on a positive note, and that the move is fuelled by a desire for a new challenge. Baring is currently seeking a replacement for Mitchell, but it is not yet clear when a successor will be appointed.
One likely attraction for Gartmore is Mitchell’s experience in tackling regulatory matters affecting the buy-side. He is a member of various advisory boards, working groups and associations.
“[Mitchell] brings a wealth of dealing experience and a vast knowledge of regulatory issues, which are particularly relevant in light of industry developments such as MiFID,” said Rossi in a statement.
Before joining Baring in 1999 Mitchell was head of fixed interest and treasury dealing at Fleming Investment Management and prior to that was head of treasury dealing at Morgan Grenfell Asset Management.
As of 30 September, Gartmore had £20.3 billion assets under management.