Riven and Mercantile founding partner Dan Hanbury is to join Ninety One as a portfolio manager later this year, a spokespersonconfirmed to Portfolio Adviser.
“With over 26 years’ industry experience, inclusive of six years at Ninety One – then called Investec Asset Management – Dan’s depth of expertise and insight will be an asset to Ninety One.
“We look forward to welcoming him back to the organisation and will communicate this news in more detail at that time.”
Hanbury left Investec in 2006 to set up River and Mercantile, but stepped down earlier this month after it was acquired by Martin Gilbert’s outfit Assetco. He managed around £790m in assets across River and Mercantile’s UK Equity Smaller Companies and UK Equity Income funds.
His departure prompted a statement for from Assetco, which downplayed the impact it would have on the firm.
“Asset management is a people business and individuals leaving and joining organisations is a regular occurrence,” a spokesperson for the company said.
“We have confidence in the senior executives and the investment management team at River and Mercantile to ensure a smooth transition of responsibilities and to continue to deliver for investors. We continue to work towards acquiring River and Mercantile with the approval of shareholders and regulators.”