Note: This story was updated at 12:30pm.
River & Mercantile has recruited another manager, Alex O’Reilly, from Newton Investment Management.
He joins Alex Stanic, who announced his employment as head of global equities with River & Mercantile last week.
Last week, Mark Thomas, the managing director of River & Mercantile, said Stanic would be looking to recruit a team to create global equity products once he joins in April.
In a statement, BNY Mellon, the parent company of Newton, says that O’Reilly joined 18 months ago in a junior role to work with Stanic and “we are not surprised by his departure.”
O’Reilly was not the lead manager on any funds, and the global equity mandates will continue to be run on a team basis.
R&M hires global funds specialist from Newton