Investment manager departs from Newton IM.
In a significant shift at Newton Investment Management, Paul Markham has been announced as the new Chief Investment Officer (CIO) for Multi Asset. This change comes after Curt Custard's decision to step down from the role due to family reasons.
Custard, who joined Newton in 2017 from UBS Asset Management, had been serving as the CIO for Multi Asset since then. Prior to his tenure at Newton, he had a distinguished career, managing various asset classes and serving as a CIO at other prominent firms.
With Custard's departure, Newton Investment Management is now seeking a new CIO for Multi Asset. However, the search results do not explicitly state the appointment of a new CIO, but they suggest that Paul Markham, a senior figure at Newton with a 25-year tenure, has taken over the role. Markham, who was previously the Head of Global Opportunities Equities and a key portfolio manager at Newton, is a credible successor to Custard.
Markham's long-standing service at Newton, spanning various equity strategies and serving as Head of Global Equities before his departure to GAM Investments in 2024, indicates his suitability for the top investment leadership role. Despite the lack of an official confirmation, it is highly plausible that Markham or someone from his team has taken over the CIO Multi Asset role.
Meanwhile, BNY Mellon, the parent company of Newton Investment Management, is undergoing a reorganisation. Some teams from Mellon Investments are being redistributed to other subsidiaries, and Multi Asset will now fall under Newton's umbrella.
In the US, Custard will continue to contribute to the firm as the Global Head of Client Solutions for Newton, as confirmed by BNY Mellon's subsidiary.
This change in leadership at Newton Investment Management is expected to have a significant impact on the firm's Multi Asset strategy, and further developments in this area will be closely watched.
Other prominent firms might consider Finance investment opportunities, given Markham's credible successor status at Newton Investment Management. The business restructuring at BNY Mellon could potentially influence the finance sector, especially Multi Asset strategies under Newton's new leadership.
