Newton strengthens multi-asset senior leadership team

Newton Investment Management Group, part of BNY Mellon Investment Management, has bolstered its multi-asset senior leadership team with the appointments of Paul Flood as Head of Mixed Assets Investment, and Hilary Meades as Head of Charities Investment.

This follows the decision by Rob Stewart, current Head of Multi-Asset Balanced and Charities, to retire later this year, and will see Newton separating the leadership of its mixed assets and charities investment capabilities.

Paul Flood, who is currently lead manager of the BNY Mellon Multi-Asset Income Fund and BNY Mellon Multi-Asset Diversified Return Fund, will assume Rob Stewart’s responsibilities as lead manager of the BNY Mellon Multi-Asset Growth Fund on 1 July. He will also join the management team of the BNY Mellon Multi-Asset Balanced Fund and BNY Mellon Multi-Asset Global Balanced Fund, working with lead manager Simon Nichols.

In his enhanced role, Paul will continue to provide leadership and analysis on asset allocation, derivatives, investment trusts and convertible bonds within the multi-asset team, as well as maintain his responsibility for generating ideas within alternative assets for the wider business, which he has been leading on since 2008. Paul will be stepping down as named portfolio manager on the Global Income strategy on 1 August 2022 but will continue to play an active part in the management team’s discussions, given his continued management of the Multi-Asset Income strategy.

Alongside Paul’s expanded remit, Hilary will be responsible as Head of Charities Investment for leading on the investments of Newton’s charities investment team and for managing the team of other portfolio managers focused on those investments.

In these newly created roles, both Paul and Hilary will report to Mitesh Sheth, CIO of Multi-Asset, and will join the multi-asset senior leadership team, whose other members include Suzanne Hutchins, Head of Real Return, Dimitri Curtil, Head of Multi-Asset Solutions, and Paul Brain, Head of Fixed Income.

Commenting on the team announcement, Mitesh Sheth, Chief Investment Officer for Multi-Asset at Newton Investment Management, said: “While our Mixed Assets and Charities Investment team will continue to operate as a single team from an investment perspective, we have separated the leadership of our mixed assets and charities investment capabilities, and believe that doing so will help ensure that we can continue to deliver the best outcomes to clients in the distinct markets those capabilities serve.

“For institutional and intermediary markets, there is a growing need for dynamic multi-asset strategies as we face elevated volatility, rising rates and inflation. Our clients need managers who can dynamically manage risk between equities and bonds, between growth and value, between emerging and developed markets. Paul and Hilary are seasoned portfolio managers who have extensive experience in their fields, and we’re delighted they will be steering the continued growth and performance of our mixed assets and charities investment capabilities.”

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