BT Investment Management’s (BTIM) chairman Brian Scullin said that the company has a clear business strategy and will look to diversify its business both organically and through mergers and acquistions.
The firm also announced yesterday that it has hired two investment professionals.
BTIM’s strategy will be part of incoming chief executive Emilio Gonzalez’s mandate, according to Scullin
“I was frequently asked on the recent institutional roadshow what Emilio’s mandate would be,” Scullin told shareholders at BTIM’s annual general meeting yesterday.
“The board’s view is that the model of BTIM is very strong. Hence we don’t see Emilio coming in as a change agent.
“He will no doubt have his own views and ideas but the strategy is clear: to build on the existing strong foundations, to maintain and enhance the brand, investment performance and profitability of the company, and to diversify the business both organically and through mergers and acquisitions.”
Gonzalez, formerly Perpetual’s group executive of global equities will join BTIM on 21 January 2010. BTIM’s former chief executive Dirk Morris left in July.
Scullin added that organic growth of BTIM’s existing boutiques is progressing well and that the company is diversifying into different products and capabilities.
“In this year, we have, for example, launched an exciting new global macro offering which is now generating interest among key dealer groups,” he said.
“Our aim is to move up the value chain into higher margin products in all areas where we already have the investment capabilities.
“The recent launch of our Australian equities long/short fund is a good example of this. With this focus comes an intention of increasing the level of performance fees that our funds earn.”
BTIM has also boosted its multi-strategies team hiring Vimal Gor and Stuart Eliot.
Gor will manage the global fixed income strategies and co-manage the firm’s balanced funds.
He previously worked at Aviva Investors in the United Kingdom.
Eliot will be responsible for enhancing the firm’s multi-strategy hedge fund, global fixed income and balanced funds. He previously worked at CreditDelta in London.
