Goldman Sachs Asset Management (GSGEPPA) hired Neill Nuttall from JPMorgan Asset Management to join its multi asset investment strategy team.
Nuttall was appointed co-chief investment officer of Goldman’s Global Portfolio Solutions Group and chairman of the GPS investment committee. He joined the firm in June and is based in London, said a spokesman for Goldman Sachs, confirming his appointment.
Nuttall left JPMorgan in April after 30 years at the firm, where he most recently headed the Global Multi Asset Group, or GMAG, which oversees about $153 billion. JPMorgan last month appointed John Bilton from Bank of America Corp. to head the global strategy team, a role Nuttall also previously covered.
“We are delighted to have further strengthened our investment team with the recent appointment of Neill,” Andrew Wilson, Goldman Sachs Asset Management’s CEO for Europe, the Middle East and Africa, said by e-mail. “With over 30 years of investment experience, Neill will serve as the head of all of our investment activities, overseeing strategic and tactical allocation” for the GPS Group.
Firms including Invesco Perpetual and Aviva Investors have sought to capitalize on the growing demand for multi asset investing, where money is deployed across asset classes from equities to infrastructure. Two-thirds of money managers expect multi-asset investment strategies will be the biggest contributor to growth in the next three years, according to a State Street Corp. survey last month.
Goldman Sachs’s GPS Group team includes about 70 globally.
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