People moves: CEO and multi-asset CIO at Newton IM to step down

Newton Investment Management – Euan Munro is stepping down from his role as chief executive officer at the firm, while Mitesh Sheth, chief investment officer for multi-asset is also leaving.

In a post on LinkedIn, Munro confirmed his departure from Newton and thanked his team and global client base.

“I am leaving behind some of the best investors I have ever had the privilege to work with; they will continue to be great without me,” he said, adding that he would be “enjoying a bit of time and space” to plan his next steps.

Munro has been Newton’s CEO since June 2021. He joined from Aviva Investors where he was the CEO for seven years. He has also previously worked at Standard Life Investments and Scottish Provident in fixed interest and multi-asset investment roles.

Meanwhile, Mitesh Sheth, CIO for multi-asset at Newton IM, is also leaving, as confirmed by BNY Investments, Newton IM’s parent company. Sheth has been in this role for more than three years, having joined from Redington where he spent almost nine years working his way up to CEO.

Rothesay – The UK’s largest pensions insurance specialist has appointed Bruce Carnegie-Brown as an independent non-executive director and chair designate from 1 May 2025, following a comprehensive search process led by Terry Miller, Rothesay’s senior independent director.

Carnegie-Brown has been chair of Lloyd’s of London since 2017 and is due to step down from that position on 30 April 2025. He is also chair of the leadership council of TheCityUK, chair of Cuvva, a digital motor insurance business, and chair of Ebury, a global fintech business.

Naguib Kheraj has served on Rothesay’s board since 2014, and as chair since 2018. He will stand down from the board on 30 June 2025 and will be succeeded by Carnegie-Brown on 1 July 2025.

The People’s Pension – Vicky Paramour has been appointed to its trustee board, joining six existing trustee directors.

Paramour will oversee the running of The People’s Pension, the UK’s largest commercial workplace pension scheme serving 6.9 million members

A trained pensions actuary, Paramour has more than 25 years of experience in the pensions industry and a decade of experience as a professional trustee. She has worked with a range of defined benefit and defined contribution schemes in a variety of different sectors, supporting them on their individual journeys. Her experience in pensions includes governance solutions, scheme design, funding and investment strategy review work, and member engagement.

As well as her role on The People’s Pension trustee board, Paramour currently acts as trustee director for Lloyds Banking Group Pension Trustees, where she chairs the investment and funding committee. She is also a trustee on the Church of England Pensions Board, where she chairs the pensions committee.

Prior to joining The People’s Pension, Paramour was managing director at the Law Debenture pensions trusteeship and governance business, as well as previously working in several consulting roles at EY, WTW and Hymans Robertson.

Cartwright – The pension specialist for DB and hybrid pension funds today announced it has enhanced its investment consulting team with the appointment of Arash Nasri as senior investment consultant.

Nasri joins from Redington, where he was a lead consultant advising wealth businesses on investment strategy. He has also held roles at Aon where he worked with DB pension schemes and endowments, and AFH Wealth Management where he was a fund manager and oversaw the discretionary investment service.

Aberdeen Investments – John McCareins has been hired as the firm’s new chief client officer.  He joins from Northern Trust Asset Management (NTAM), where he was executive vice-president and head of international.

McCareins will join Aberdeen in mid-June 2025 and will sit on Aberdeen’s group executive leadership team. He brings more than 25 years of institutional investment and advisory experience, with a proven track record of leading and growing high-performing cross-functional teams across geographies and asset classes.

He most recently led NTAM’s international business from London, including APAC and EMEA. Prior to that, he led the firm’s APAC business based in Hong Kong, having spent his early Northern Trust career in his home town of Chicago in the multi-manager solutions practice.

McCareins will be responsible for Aberdeen Investments’ global commercial franchise, including strategic partnerships, business development, client experience and advancing its solutions capabilities across insurance companies, pension funds, sovereign wealth funds, financial institutions and wealth managers. He will be based at Aberdeen’s London office in this global role.

Pension Fund of Commerce (Lífeyrissjóður verzlunarmanna LV) – Páll Ásgrímsson, general counsel at Sýn, the Icelandic media company that operates Vodafone Iceland, has been appointed to the board of directors of the Icelandic pension fund.

Árni Stefánsson, chief executive officer of Reykjavik hardware store chain Húsasmiðjan, has resigned from LV’s board after eight years, the pension fund has announced.

Jón Ólafur Halldórsson has taken over as chair of the board, and Stefán Sveinbjörnsson as vice-chair, according to LV.

Allspring Global Investments – Kate Burke will assume the role of CEO, effective 1 July. She joined Allspring in 2023 as president and also began service as a director on the company’s board.

CEO Joe Sullivan will continue to serve as executive chair of the board, working closely with Burke and other leaders to drive the firm’s strategy.

Burke has more than two decades of asset management industry experience. Prior to joining Allspring, she served as the chief operating officer and chief financial officer of AllianceBernstein, where she was responsible for overseeing all corporate functions of the firm, including strategy, global technology and operations, quantitative research and data science, human capital and administrative services, legal and compliance, and finance. She was previously head of Bernstein Private Wealth and chief administrative officer. Before that, Burke was head of human capital and chief talent officer. 

BNP Paribas Asset Management (BNPP AM) – Jeff French has been hired as the firm’s head of investor relations, private assets Asia Pacific.

Based in Singapore, French reports to Mike Nikou, BNPP AM Asia Pacific CEO, and is responsible for driving private asset growth, managing client relationships together with the region’s sales teams, and working closely with the private asset teams.

French joins from OMERS Private Equity, where he was managing director and Asia head, and responsible for leading the company’s investment activities in Asia Pacific, including deal sourcing, execution and portfolio management. Prior to that, he held senior roles at Blackstone’s corporate private equity group in Singapore, as well as at Goldman Sachs and Credit Suisse’s investment banking groups, advising clients on M&A and other capital market transactions in New York and Singapore.

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