PortfolioMetrix has hired Schroders Investment Solutions chief investment officer (CIO) Alex Funk as its new head of investments.
Funk will join PortfolioMetrix on 1 August.
He was previously CIO of Benchmark Capital, which is owned by Schroders, from 2019 to 2021. Before moving to the UK, he was chief executive at Cinnabar Investment Management in South Africa.
Funk will be replacing Nic Spicer, who is to step down from his executive role at PortfolioMetrix and is leaving to pursue a master’s degree in Sustainable Energy Futures at Imperial College.
Spicer had launched and run numerous environmental, social and governance (ESG) portfolios at PortfolioMetrix.
Spicer will remain a shareholder in PortfolioMetrix and will run a handover process to ensure that Funk has a smooth transition into his new position.
PortfolioMetrix Global CEO Brandon Zietsman said: “Nic has done a fantastic job building an outstanding investment team and we’re immensely grateful for the part he has played in developing the business to this point.”
PortfolioMetrix UK managing director Ben Peele added: “We’re very excited for Alex to join in the summer. His breadth of experience across MPS, multi-asset and insourced solutions will bring a different perspective and ensure that PortfolioMetrix’s proposition keeps evolving. His proven track record on driving growth will help take our business to even greater heights.”
PortfolioMetrix has £3.5bn in assets under management (AUM).
In April, Schroders Group CEO Peter Harrison announced he will retire next year.
Harrison joined Schroders in March 2013 and took on the role of Group CEO in April 2016.
Prior to his current role, he was global head of investment.
Before joining Schroders, Harrison was chairman and CEO of investment boutique RWC Partners.
He started his career as a graduate at Schroders in 1988, before joining JP Morgan for a period of time.