BIAM resolves to turnaround investment performance

The Bank of Ireland has restructured its investment arm Bank of Ireland Asset Management (BIAM), which has involved three new appointments at managing director level.

The restructuring follows the overnight departure in September 2004 of BIAM’s core, four-man funds management team to Perpetual’s then newly-created Dublin-based international equities arm.

BIAM chief executive Mick Sweeney said in a media release today that the restructure, which includes the introduction of a global research platform, was designed to “accelerate a turnaround in our performance”.

“I am steadfast in my resolve to turnaround investment performance, and we will continue to invest whatever resources are required to ensure that this objective is met.”

BIAM’s equity team will now be led by Paul Boyne, who has been appointed managing director, global equities, and will be responsible for the management of BIAM’s $50.5 billion global equity book.

Boyne joined BIAM from Morgan Stanley Investment Management in London, where he worked since 1993.

Chris Johns has been appointed managing director of global research, a newly created position, and will have direct responsibility for all global equity, fixed income and property research.

His previous posts include head of research at ABN AMRO, director of investment strategy at Allied Irish Capital Management, Dublin, and chief economist for the Bank of Ireland.

Sean Crowe, who has been appointed managing director, global fixed income and specialist products, will be responsible for growing BIAM’s fixed income, credit and property portfolios, and will also have direct responsibility for the delivery of new products.

He is currently global head of trading and investment at Bank of Ireland Global Markets, where he is responsible for all fixed income, foreign exchange, money market and derivative activities.