Aviva Investors has shaken up management in its UK and European equity teams following the departure of Mark Denham and Simon Young from the firm.
Denham, who will join Carmignac as its head of European equities, spent 13 years leading the pan-European equities team and managing €5bn (£3.8bn) in mandates.
He will replace Muhammed Yesilhark who left Carmignac for “personal reasons” in March this year after almost two years at the firm.
Young departs Aviva Investors after just one year at the firm. Aviva would not confirm where he was going.
Following Denham’s departure, Frédéric Tassin, head of European equities at the firm, will now have sole responsibility of Aviva Investors’ European teams both in Paris and London.
Current fund manager Ed Kevis, who manages the firm’s European Equity Income fund will take over all responsibilities for the European portfolios in London.
As a result of Young’s departure, head of UK equities Trevor Green will be co-manager of the £254m UK Equity fund alongside Chris Murphy.
Green will continue to co-manage the company’s UK Opportunities fund and the UK Smaller Companies fund.
Aviva Investors’ James Balfour has also been promoted to portfolio manager, and has been appointed co-manager on the UK Equity Income fund with Murphy.
Regarding the appointment of Denham, Carmignac founder and chairman Edouard Carmignac says: “Our aim is to achieve robust, steady performance, based on a culture of long-term investing. This is at the essence of our Patrimoine investment approach.
“Mark understands this focus and his experience, track record and investment style make him the ideal leader to drive that ambition forward.”