Gary Potter, co-head of the Multi-Manager team at BMO Global Asset Management (EMEA), is to retire from leading the team at the end of Q1 2022.
Gary has worked in the fund management industry for over 40 years and has taken the decision to step down to spend more time with his family, he said.
The intervening months will see his responsibilities transitioned to the wider Multi-Manager team.
BMO’s team-based approach will continue, under the leadership of Rob Burdett, who will become sole head of the Multi-Manager team when Gary retires, supported by a team of eight people with combined investment experience of 180 years, including four highly experienced senior partners: Kelly Prior, Anthony Willis, Scott Spencer and Paul Green.
Gary will remain available, exclusively, as a consultant to the Multi-Manager team.
Gary said: “After 41 years in the industry, I believe now is a good time to reflect on my career and set a course for the next few years of my life, allowing me to spend more time with my family.
“I’ve had the pleasure of working with Rob Burdett for over 25 years, building our team, the businesses, and funds we have managed, and developed many associated relationships for which I am very grateful for, especially with our clients.
“During my time of working with Rob and the wider team, we have delivered strong long-term investment returns for our clients. I am hugely proud of what we have achieved together, and it gives me great joy to know we have positively contributed towards helping people save for their retirement and other life goals.
“As I reflect on my time in the industry, we have seen our clients through some of the biggest market events in history, including the dotcom bubble, the Global Financial Crisis, and most recently, the Covid-19 pandemic.
“Looking ahead, I am stepping back at a really exciting and positive time for our team. Our fund performance has recovered strongly since the vaccination announcement date in November 2020, and we have a new corporate partner in Columbia Threadneedle, full of enthusiasm and wanting to take our business to the next level.
“I want to thank our clients, colleagues and the managers we have invested in over the years, as well as friends from across the industry for the support they have given me throughout my career, and I am sure the team will continue to deliver for our clients in the years to come.”
Commenting on the announcement, Darius McDermott, managing director of FundCalibre, said: “There are very few fund managers who can say they’ve built three fund of fund businesses into billion pound franchises during their career.
“But that is exactly what Gary Potter has done alongside Robert Burdett in the past 25 years. After taking the fund of funds business at Rothschild from £110m to more than £1bn, the pair then built a market-leading franchise from scratch at both Credit Suisse Asset Management and Thames River, with the latter subsequently being bought by BMO (then F&C) back in 2010.
“The fact they have managed to achieve such success is testament to their long-term performance through numerous market cycles – you do not build numerous fund of fund franchises with a strong adviser and retail following without it.
“They’ve also proven their ability to evolve to changes in the fund of funds space and have continued to stand out in what is now a proliferated area of the market. Ultimately there will be a lot of people who will be grateful to have been investing with them during their time together.
“We wish Gary well after his 40 years in the industry and remain confident in Rob and his eight-strong team at BMO, many of whom are senior partners in the business, a number of whom have spent 15 or so years in the team.
“The fact that Gary will also be available as a consultant to the management team gives us additional confidence and, as a result, the BMO MM Navigator Distribution fund will retain its Elite Rating.”
