SLI reviews remuneration policy after Munro departure

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The remuneration policy at Standard Life Investments is under review, following last week’s high profile departure of global head of multi-asset investing and fixed income Euan Munro.

His successor Guy Stern, who has been leading the firm’s day-to-day management of its multi-asset investments since 2008, revealed that these policies are under review in order to retain managers.

Stern is confident that SLI will be able to retain its remaining managers and is complimented that headhunters monitor the firm.

Stern says: “I suppose we should take it as a bit of a compliment that our people are sought after by other organisations, who would like to build something as successful as we have done here.”

Last September, David Millar, Dave Jubb and Richard Batty – who held key roles in the Global Absolute Return Strategy team – left SLI to join Invesco Perpetual.

Stern adds: “There are reviews taking place about whether our compensation and incentives of all our long-term lock-ins are correct. I am pretty confident we have at least a good a retention policy as anyone I have ever seen.”

Munro, who established and developed SLI’s flagship absolute return fund, the £18bn Global Absolute Return Strategy, will become chief executive officer of Aviva Investors as of January 2014.