It was a case of new year, new job for veteran emerging markets investor Mobius, who left Franklin Templeton after 30 years in January 2018.
In truth, Mobius had already stepped off the last of the US-domiciled funds he managed, the Templeton Frontier Markets fund, in March 2017, but had remained a key figure within the Templeton Emerging Markets Group.
Despite his bona fide veteran status, Mobius has not retired from portfolio management and has gone on to launch Mobius Capital Partners LLP, an emerging markets boutique with a focus on ESG.
Huber announced his retirement at the start of the year and officially stepped down at the end of 2018. In between times he had a hell of a year, holding a Citywire AAA rating for his risk-adjusted returns on the T. Rowe Price Global Multi-Sector Bond fund for 10 out of 12 months. For the other two months he was AA rated.
The fund has now been passed to Kenneth Orchard who joined Huber as co-manager on the strategy when the latter's retirement was first announced.
Charles 'Chuck' Myers
Myers first took a break from running the Fidelity Small Cap Discovery fund in 2016 when he went on a six-month leave of absence to spend more time with his family.
He returned later that year, but stepped off the fund in 2017 before later leaving Fidelity altogether to set up a family office.
The Fidelity Small Cap Discovery fund is now run by Derek Janssen.
Prince-Fox stepped off the Ivy Asset Strategy fund, among others, as a result of her retirement from Waddell & Reed after 35 years with the firm.
Prince-Fox became the latest manager to leave the once-popular Ivy Asset Strategy, following Ryan Caldwell who left in June 2014 and then Michael Avery, who retired in 2016.
There was no shortage of manager departures from AllianceBernstein (AB) in 2018, but Shah's exit hit headlines due to his seniority at that firm and the fact he jumped ship to Goldman Sachs Asset Management (GSAM).
Shah had been chief investment officer of global credit and head of fixed income at AB but left to join GSAM as the firm’s head of the global corporate credit team and co-head of cross-sector strategy.
In February of last year veteran MFS Investments portfolio manager Jim Swanson called time on his 32-year career with the firm.
Swanson, who was chief investment strategist at the Boston-based asset manager, officially left at the end of 2018, stepping off the MFS Diversified Income fund, which he had run alongside Richard Gable, Matthew Ryan, Jonathan Sage, David Cole, William Adams, Ward Brown and Geoffrey Schechter.
Following Swanson's retirement Robert Almeida was appointed global investment strategist and has taken over his responsibliities.
Kim, who was head of equity portfolio implementation in AQR Capital Management’s global stock selection group, left in May 2018 after almost 13 years with the firm.
Kim joined AQR in May 2005 and has been responsible for the day-to-day portfolio management decisions for all long/short and long-only equity strategies at the firm.
In September, Citywire reported that Kim had launched his own hedge fund, Quantinno Capital Management LP.
Wasatch Advisors founder and portfolio manager Sam Stewart bid goodbye to his baby last year and struck out to launch another asset manager, Seven Canyons Advisors, alongside his son Josh.
The Stewarts took with them the assets they had run while Wasatch — the Wasatch Strategic Income fund and the Wasatch World Innovators fund— and merged them into new funds at Seven Canyons Advisors.
Nassour, Vanguard's biggest active bond manager, resigned in April 2018 after spending 26 years at the firm, where he was co-head of investment grade credit and managed a combined $235.7 billion across seven mutual funds and one variable insurance fund.
His former co-head of investment grade credit Stephen Kozeracki took over as sole head of the unit after Nassour’s departure.
JP Morgan bond manager Peter Simons is not leaving the firm until June 15 this year, but makes this list as he stepped off his funds at the end of the 2018.
Goldman Sachs Asset Management’s co-CIO of fundamental US equity Sean Gallagher retired from the firm at the end of September 2018.
In January 2018 Gallagher was promoted to co-CIO of fundamental US equity, the merged unit formed from the firm’s fundamental equity US value team and fundamental equity US growth team.
Prior to his appointment Gallagher had been CIO of US value equity since 2009.
Wellington veteran Keogh is retiring in June 30 of this year, leaving behind some of Vanguard’s largest subadvised funds, including the Vanguard Wellington fund and the Vanguard Wellesley Income fund.
Keogh had been with Wellington for almost 36 years. He’ll be around for a bit longer though; he’s staying on to manage the fixed income portion of the four funds he is listed on until his retirement.
Stahl beat Keogh out the door at Wellington, retiring at the end of 2018 after 20 years with the firm. He managed about $14 billion in mutual fund assets in four Hartford funds.
Gregg R. Thomas remains as sole manager on the four Hartford funds after Stahl’s departure.
Roberto Croce & Co.
BNY Mellon Asset Management gained a set of portfolio managers from Salient Partners in the fall.
Salient’s head of quantitative strategies Roberto Croce, senior analyst Xuan Huan and associate portfolio manager Berto Brauns joined after a restructure at their previous firm.
The trio, which specialized in risk parity, alternative risk premia and trend-following strategies, also brought over assets from the Salient funds they managed.
Salient’s restructure saw the company sell its wealth management division and cut its equity and quantitative investment divisions.
Lord Abbett hired Eli Rabinowich from Pzena Investment Management in September to lead an overhaul of its equity offerings.
Rabinowich had enjoyed a 14-year career at Pzena, where he subadvised a variety of value funds, including the Vanguard Selected Value fund and the American Beacon Mid-Cap Value fund.
At Lord Abbett he now runs the Lord Abbett Fundamental Equity fund and the $1.7 billion Lord Abbett Mid Cap Stock fund.
Artisan Partners hired OppenheimerFunds star portfolio manager Rezo Kanovich as part of an overhaul of its Artisan Non-US Small-Cap Growth strategy.
The strategy had been soft closed since 2003 but was reopened in October 15 when Kanovich took over the management of the fund, replacing Mark L. Yockey and Charles-Henri Hamker.
The strategy has also since been renamed the Artisan International Small-Mid fund.
Prior to joining Artisan Partners, Kanovich was the sole manager of the Oppenheimer International Small-Mid Company fund.
David Poppe, the lead manager of Ruane, Cunniff & Goldfarb’s flagship Sequoia fund, retired at the end of 2018 after almost two decades with the firm.
The storied mutual fund is now in the hands of Arman Gokgol-Kline, John Harris, Trevor Magyar and David Sheridan.
Poppe joined Ruane, Cunniff & Goldfarb in 1999 as an analyst. He became the firm’s president in 2006 and was named chief executive in 2016. Previously, Poppe had a 12-year career in journalism working mostly for the Miami Herald.
In October, Macquarie Investment Management announced veteran value portfolio manager Ty Nutt was set to retire in July 2019.
While Nutt is set to remain an active member of the team through his retirement date, the leadership of the firm’s Large-Cap Value strategy has been handed over to Nikhil Lalvani.
Industry veteran Nutt joined Delaware Investments in 2004 as senior vice president and senior portfolio manager. Prior to that, he led the US active large-cap value team within Merrill Lynch Investment Managers.
Stern (pictured left), the lead portfolio manager of the $2.9 billion John Hancock Global Absolute Return Strategies, is set to retire next month from the fund’s subadvisor, Aberdeen Standard Investments (ASI).
His exit, announced in November last year, dealt a blow for the John Hancock fund and the underlying strategy, which has seen a number of key exits over the last few years and suffered drops in performance and significant outflows.
Stern, who is head of multi-asset at the Edinburgh, Scotland-based asset manager ASI, was replaced by Aymeric Forest, who joins the firm from Schroders to lead its £140 billion ($187 billion) multi-asset team.
In November 2018, Citywire broke the news on the upcoming retirement of senior portfolio Paul DeNoon from AllianceBernstein after 26 years with the firm.
New York-based DeNoon, who is named on 12 funds, will retire in 2020.
AB has had some attrition in its fixed income leadership team in 2018. Its global head of fixed income product management Meghan Dacey left the firm, while DeNoon's fellow bond manager Ivan Rudolph-Shabinsky is also to retire after 26 years at the firm.