Swip joint head of multi-manager distribution to leave
Stephen Packter, joint-head of multi-manager distribution at Swip, has been made redundant.
Packter is set to leave the firm on June 8. As well as being joint-head of multi-manager distribution, he is regional sales director for the North. Following his departure multi-manager distribution will be handled by Bernard Henshall, current head of multi-manager and strategic alliances distribution.
Last month, Money Marketing, Fundweb’s sister publication, revealed Swip had told five of its 14-strong investment sales team to reapply for their positions as part of a restructure.
Five members of the investment sales team who work with discretionaries and intermediaries were told to reapply for their jobs as part of the firm’s decision to change a number of roles.
At the time, a spokeswoman from Swip said: “We can clarify that the change in role profile for the ISDs is broadly around ensuring the current structure, which sees a more siloed approach, changes to one where the team has a holistic client view covering IFAs, discretionary advisers and platforms.”
This followed its announcement that it would be cutting 23 out of 38 roles in its equity investment team as part of a move to ’lower-risk’ investment strategies.
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