Insight Investment Appoints Chief Risk Officer

Insight Investment has created a new board level risk management role with the appointment of Keith Lovett as chief risk officer. The company claims it is one of very few board level risk appointments in asset management companies and reflects

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Insight Investment has created a new board level risk management role with the appointment of Keith Lovett as chief risk officer. The company claims it is one of very few board level risk appointments in asset management companies and reflects Insight’s conviction that risk sits equally alongside all other aspects of the business.

In this new role, Insight board director Lovett, 47, will head teams with responsibility for all corporate risk functions within Insight, including regulatory, business, operational, legal and financial. Lovett joined Insight as chief operating officer and director in 2002 after a number of years with Prudential/M&G. His successor as chief operating officer is Atul Manek, 42, previously director of investment operations (and head of operations and IT at Rothschild Asset Management, prior to its acquisition by Insight in January 2003). Manek joins the board of Insight in his new role.

Announcing these board level changes, Insight’s chief executive Douglas Ferrans said, “We are extremely fortunate that we have top talent to fill these two important senior management roles, both risk and operational delivery. Risk management has featured high on Insight’s business plans, management actions and behaviours since inception, but the rapidly changing nature of the markets, the needs of customers and the increasing complexity of the business mean that the risks facing asset managers have never been greater than they are today. I believe moving risk management to the most senior level in the business will become one of the key criteria for success in the asset management industry going forward. Keith’s extensive business background will be critical to ensure the risk function and framework is aligned to and adds value to the business”.

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