InvestorWeb dismisses managed fund analysts
InvestorWeb Research has dismissed two of its most senior managed fund analysts, David Wright and David Smythe, in what appears to be acrimonious circumstances.
The group refused to comment on the precise reasons behind the dismissals last week, saying only that the “circumstances leading to their departure resulted in a decision that the company felt was unavoidable”.
The decision will leave InvestorWeb with only two analysts in what should be a five-strong managed fund team.
Another of the group’s senior analysts, David Parr, has previously announced he would leave the research house to take up a business development role withUBS Global Asset Management.
InvestorWeb chief operating officer Toby Potter says the group has already approached a number of industry analysts to fill the vacancies, including the recently departed associate director atAssirt, Anthony Serhan.
“It would be genuinely premature for me to say that we will make Anthony an offer, but we have had a number of conversations,” Potter says.
Potter says the departure of Wright and Smythe does not signal a reduced commitment to investment research by InvestorWeb.
InvestorWeb has previously been required to refute reports that there was a question mark over the continuation of its research business following the announcement that its parent, IWL, planned to merge with share market information systems provider Iress.
InvestorWeb’s two remaining analysts, Martin Kerr and Ben Davis, will run the group’s managed fund team until the three vacancies can be filled.
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