Close Brothers Asset Management (CBAM) has promoted Weixu Yan to head of passives as part of a leadership reshuffle.
Reporting to CBAM’s CIO Robert Alster, Giles Parkinson has been promoted to head of equities, Andrew Metcalf as head of fixed income, Yan (pictured) as head of passives, Alec Slater as head of alternatives and Matthew Stanesby as head of collectives.
Yan (pictured), who is a member of ETF Stream’s ETF Buyers Club, joined CBAM when it acquired Fortune Group in 2010. Prior to the promotion, he headed up ETF research while operating as a senior fund manager.
Parkinson has been at CBAM as managing director for global funds since October 2021 six years as a fund manager at Aviva and five years as a fund manager at Artemis Investment Management.
Metcalf joined Close Brothers AM as a fixed income portfolio manager in September 2016 and after a year as a fixed income portfolio manager at Phoenix Group, returned to the firm as a senior fund manager. He also spent six years in credit analyst roles across Vanguard, Moody’s and Barclays.
Slater joined the firm in July 2021 as an alternative investment analyst before being promoted to senior analyst a year later.
He previously spent seven years as an investment analyst at Schroders and three years as a hedge fund analyst at Société Générale.
Finally, the new head of collectives, Stanesby, joined Close Brothers AM in 2007 as an investment director and now heads up manager research and manages the firm’s multi-asset funds.
He spent 18 years in investment consultancy roles across Aon Hewitt and Mercer Investments.
Alster commented: “By appointing a number of our fund managers as heads and thought leaders of the asset classes we invest in, we are ensuring that the investments of all investment managers within the firm are more closely aligned with our research capability.
“This will also strengthen our strategic approach to each asset class and lead to better results for our clients.”
The news follows reports in July Close Brothers could be considering offloading its asset management arm, with Bloomberg suggesting a price of £300m.