Insight Investment

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Insight Investment
Industry Investment management
Founded 2002
Headquarters London, United Kingdom
Area served Worldwide
Key people Abdallah Nauphal
CEO and CIO (Investments)
Products Investment management
AUM GBP 295.2 billion (2014)
Website www.insightinvestment.com

Insight Investment (Insight) is one of the UK’s largest investment management companies,[1][2] specialising in liability-driven investment (LDI), fixed income, absolute return and specialist investment strategies. Launched in 2002, Insight is headquartered in London. It was responsible for assets under management of £295.2 billion, as at 31 March 2014 represented by the value of cash securities and other economic exposure managed for clients.[3] It is a subsidiary of The Bank of New York Mellon, a multinational financial services corporation.

The UK banking group HBOS formed Insight Investment in 2002 by merging its asset management arms, which included Clerical Medical Investment Management.[4] In 2003, Insight Investment acquired Rothschild Asset Management, which specialised in fixed income investments.[5] In 2009, BNY Mellon acquired Insight from Lloyds Banking Group, which formally acquired HBOS earlier that year.[6][7] In 2013, Insight merged with Pareto Investment Management, a currency risk manager.[8] Insight primarily serves clients across the UK and Europe.[9]

History[edit]

Insight Investment was launched in 2002. It was formed from the merger of the asset management arms of UK banking group HBOS: Clerical Medical Investment Management, Halifax Fund Management and the investment division of Equitable Life. Douglas Ferrans was Insight’s first CEO and played a significant role in its formation and launch.[4]

In 2003, Insight acquired Rothschild Asset Management, which was well known for its fixed income solutions and multimanager funds, and property investment manager Gatehouse Investment Management.[5][10][11]

In 2006, Insight demerged its property investment unit and floated it on the Aim market at the London Stock Exchange as Invista Real Estate Investment Management.[12][13][14]

In 2007, Abdallah Nauphal became CEO of Insight.[15] He already held a dual role as deputy CEO (from June 2006) and chief investment officer (from September 2003) of the company.[16] He joined Insight as head of fixed income in April 2003 after the acquisition of Rothschild Asset Management, where he was chief investment officer for fixed income. He was previously head of fixed income at Schroder Investment Management.[17]

In 2009, Insight’s parent company HBOS was acquired by Lloyds Banking Group (Lloyds).[7] Later that year, BNY Mellon acquired Insight Investment from Lloyds.[6][18][19][20][21][22] Lloyds retained most of the equity assets managed by Insight and transferred them to Scottish Widows Investment Partnership, the group’s primary in-house asset manager after the sale of Insight. This left Insight as an asset manager primarily focused on fixed income and LDI strategies.[23] It transferred its headquarters in early 2011 to share a building with BNY Mellon in Blackfriars, London.[24]

In 2012, Insight announced that it would merge with Pareto Investment Management, a currency risk manager with £27 billion of assets under management. The merger was complete at the beginning of 2013. Pareto was also owned by BNY Mellon.[8][25]

Insight has reported an increase in its assets under management for external clients in every year since its launch.[26]

Awards[edit]

Insight Investment won 40 industry awards over the six years from 2007 to 2012.[27]

Key people[edit]

Abdallah Nauphal – CEO and Chief Investment Officer (Investments)[28][29]

Andrew Giles – Chief Investment Officer (Solutions) [30]

Atul Manek – Chief Operating Officer/Chief Finance Officer [31]

Adrian Grey - Head of Fixed Income and Currency [26][32]

Philip Anker - Global Head of Distribution [33][34]

Heather Davies - Director of Human Resources [26]

References[edit]

  1. ^ page 15, Asset Management in the UK 2010-2011: The IMA Annual Survey
  2. ^ "Beasts and boutiques squeeze middle players", "Financial Times", London, 20 June 2011. Retrieved on 24 April 2012.
  3. ^ Insight Investment website
  4. ^ a b "Insight finds success in total returns", "Investment Week", London, 11 June 2007. Retrieved on 25 April 2012.
  5. ^ a b "Insight buys Rothschild Asset Management", Money Marketing, London, 4 December 2002. Retrieved on 25 April 2012.
  6. ^ a b "The Bank of New York Mellon to Acquire Insight Investment Management Limited", Press release from The Bank of New York Mellon, New York and London, 12 August 2009. Retrieved on 25 April 2012.
  7. ^ a b "FSA approves Lloyds TSB’s proposed acquisition of HBOS", Press release from Lloyds TSB, London, 10 December 2008. Retrieved on 25 April 2012.
  8. ^ a b "Insight Investment Management joins forces with Pareto", "Investment Europe", London, 2 January 2013. Retrieved on 3 January 2013.
  9. ^ Insight Investment Media Factsheet, December 2012
  10. ^ "Insight pays £61m for fund manager", "The Daily Telegraph", London, 5 December 2002. Retrieved on 25 April 2012.
  11. ^ "Insight buys the Gatehouse five", "Financial News", London, 30 September 2003. Retrieved on 25 April 2012.
  12. ^ "Insight floats real estate under Ross Goobey", "Investment Pensions Europe", London, 31 August 2006. Retrieved on 25 April 2012.
  13. ^ "HBOS to float property arm of Insight unit for £270m", "The Independent", 1 September 2006. Retrieved on 25 April 2012.
  14. ^ "Insight plans Aim listing for property manager Invista", "Money Marketing", 7 September 2006. Retrieved on 25 April 2012.
  15. ^ "Insight says Ferrans to be chairman", "Reuters", London, 28 March 2007. Retrieved 25 April 2012.
  16. ^ "Insight assigns Nauphal to deputy chief exec position", "Investment Week", London, 5 June 2006. Retrieved 12 September 2012.
  17. ^ Insight Investment website, Our Team page. Archived by The Wayback Machine. Retrieved on 30 November 2012.
  18. ^ "Insight Investment acquired by Bank of New York Mellon", Press release from Insight Investment, London, 12 August 2009. Retrieved on 25 April 2012.
  19. ^ "Lloyds Banking Group announces asset management plans", Press release from Lloyds Banking Group, London, 12 August 2009. Retrieved on 25 April 2012.
  20. ^ "Lloyds sells Insight Investment to Bank of New York Mellon", "The Guardian", London, 12 August 2009. Retrieved on 25 April 2012.
  21. ^ "Lloyds disposals begin with £235m sale of Insight to BNY Mellon", "The Daily Telegraph", London, 12 August 2009. Retrieved on 25 April 2012.
  22. ^ "Lloyds sells Insight to Bank of New York Mellon", "The Daily Telegraph", London, 12m August 2009. Retrieved on 25 April 2012.
  23. ^ "News Analysis: Curtain falls on Insight's equities struggle", "Financial News", London, 12 August 2009. Retrieved on 25 April 2012.
  24. ^ Insight Investment website, Change of registered office address page (Google cache, retrieved on 12 September 2012)
  25. ^ "Insight joins forces with Pareto to create £200bn powerhouse", "Citywire", London, 14 September 2012. Retrieved on 2 October 2012.
  26. ^ a b c Insight Investment Media Factsheet, Q1 2013
  27. ^ Insight Investment website, Our Awards page
  28. ^ "Visionary with exact solutions in mind", "Financial Times", London, 14 May 2007. Retrieved on 25 April 2012.
  29. ^ "Abdallah Nauphal: boutique boss keen to tailor products", "Financial Times", London, 31 October 2010. Retrieved on 25 April 2012.
  30. ^ "Pension funds win time to tackle Emir problems", "Financial Times", London, 21 January 2012. Retrieved on 25 April 2012.
  31. ^ "Q&A: Insight Investment Management's chief finance officer Atul Manek", "Financial News", London, 13 September 2010. Retrieved on 25 April 2012.
  32. ^ "Insight names new head of fixed income", "Financial News", London, 20 April 2005. Retrieved on 8 July 2013.
  33. ^ "Insight hires for global distribution role", "FT Adviser", London, 26 June 2013. Retrieved on 8 July 2013.
  34. ^ "Insight Investment appoints global head of distribution", Press release from Insight Investment, London, 26 June 2013. Retrieved on 8 July 2013.

External links[edit]