NewSmith, the London and Tokyo based manager that is 40% owned by Japan’s Sumitrust, has appointed Nick Watts partner and vice-chairman.
Watts appointment comes as NewSmith also announces the retirement of two of its founding partners. Michael Marks and Stephen Zimmerman were part of the group of former Merrill Lynch staff that established the firm in 2003, and will remain shareholders in the business.
Fellow cofounders Paul Roy and Ron Carlsson will remain in their respective roles as chairman and chief executive.
Watts has worked in asset management for some 20 years, including portfolio manager and CIO roles at Rothschilds, Citibank and John Govett. He has also worked in actuarial and consultancy roles.