Liontrust pays £781k to shut global team after nine months

clock

The decision to cut Ross Hollyman's global equity team, which ran less than $1m of internal money, has cost boutique manager Liontrust £781,000.

Hollyman's global team, who moved from GAM in October 2009, was closed by new Liontrust CEO John Ions in July. Liontrust said at the time the closure was part of an effort to focus on existing products and assets. "The cost of the Global equities team closure was £781,000, which includes severance compensation payable to Mr Hollyman and his team, set-up and closure costs for the Guernsey and Jersey companies that were set up to house the Global equities business, related legal expenses, social security costs and VAT," Liontrust says. The group, which has £15m in net cash and financ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Ten Schroders funds red flagged due to underperformance

Ten Schroders funds red flagged due to underperformance

Assessment of Value report shows

Linus Uhlig
clock 29 April 2025 • 3 min read
Did the bond market cause Trump's tariff U-turn?

Did the bond market cause Trump's tariff U-turn?

90-day pause on tariffs introduced on ‘Liberation Day’

Laith Khalaf
clock 24 April 2025 • 3 min read
RLAM implements Sustainability Focus label across £11bn portfolio range

RLAM implements Sustainability Focus label across £11bn portfolio range

Across a mix of funds and trusts

Cristian Angeloni
clock 23 April 2025 • 1 min read