has anointed a successor to fill her old shoes.
Today Smits, CEO of New York City-based BNY Mellon Investment Management
that Euan Munro
will take over
as CEO of a BNY Mellon IM boutique, London-based Newton Investment Management
, on June 23. Munro will report to Smits.
Smits served as Newton's CEO prior to taking over
all of BNY Mellon IM last year. Newton's chief operating officer, Andrew Downs
, stepped up as the boutique's interim CEO, and he will remain in that role until Munro joins, then he'll shift back to COO.
Smits lauds Muncro as "an exceptional leader with a proven track record."
Munro most recently spent seven years as CEO of Aviva Investors
, where he also served on Aviva PLC's group executive committee. Prior to that, he worked with Standard Life Investments and Scottish Provident. He an alumnus of the University of Edinburgh.
Newton had 44 billion pounds (about $60 billion) in AUM as of September 30, and all of BNY Mellon IM had $2 trillion.
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