Sept. 3 (Bloomberg) -- MAM Funds Plc, a U.K. money manager, hired Nick Ford from Scottish Widows Investment Partnership, Scotland’s third-largest money manager, to oversee U.S. equities.
MAM Funds, a Reading, England-based company with 1.72 billion pounds ($2.73 billion) under management as of June 30, doesn’t currently offer U.S. equity funds to clients, it said in a statement today.
Ford was head of U.S. equities at Edinburgh-based Scottish Widows Investment Partnership, the fund unit of Lloyds Banking Group Plc, and part of the money manager’s global equities team after its reorganization earlier this year. Scottish Widows oversees 138.2 billion pounds as of June 30.
“This appointment is in line with the group’s strategy to invest in new talent that will enable it to launch distinct new funds and thereby grow its assets under management,” MAM said in the statement.
Ford previously worked with MAM Managing Director Gervais Williams, who joined the company last year, at Gartmore Group Ltd., MAM said.
Ford’s North American Smaller Companies fund at Scottish Widows Investment returned 3.2 percent over the past year, ranking second of nine similar funds, according to FE Analytics data, MAM said. His American Select Growth fund returned 9.1 percent, ranking third of 101 similar funds.
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