F&C Asset Management has today announced the appointment of Jacob De Wit as Head of Fixed Income. The appointment follows a decision by Helene Williamson, current Head of Fixed Income, to focus on investment management and to take on the role of Head of Emerging Debt with a view to further developing that area of business including the launch of absolute return products.

De Wit joins F&C from Netherlands-based SNS Asset Management where he has worked since 2001, latterly as Managing Director. Prior to this he spent three years as Head of Fixed Income for AXA Investment Managers with responsibility for clients in the Netherlands, Belgium and Luxembourg. At AXA he was also a member of the Fixed Income Management Committee and a member of the Fixed Income Forecasting Group. As a member of the Fixed Income Management Committee De Wit played a key role in integrating the fixed income businesses across AXA IM into one single integrated unit.

At F&C De Wit will head up a team of over 40 fixed income investment professionals based in London and Amsterdam, responsible for fixed income assets under management of €102.7 billion (as at 31/12/04). There will be no changes in the team structure or process as a result of the appointment. De Wit, who will re-locate to London when he joins the company shortly, will also join F&C’s Executive Management Committee.

Commenting on the appointment Alain Grisay, Deputy Chief Executive of F&C, said:

”Helene has successfully achieved the integration of two investment teams to create a truly formidable force in fixed income. With the merger now complete and the team and philosophy fully integrated we entirely understand her desire to focus on money management.”
“F&C has doubled in size as a result of the merger and leading our significantly enlarged fixed income team requires considerable management time. When we were considering candidates for this senior role we felt it was essential to find an individual with experience both working for a multi-national and a track record of managing a team across multiple locations. Jacob has exactly the qualities we were looking for.”

Patrick Hendrikx, Head of Credit at F&C, added:

“We are delighted that Jacob is joining us. He is a well known investor in the Netherlands which, given the size of the Dutch pension fund industry and the number of insurance companies located there, is a European centre of excellence for fixed income. His appointment further reinforces F&C’s pan-European credentials.”

Helene Williamson, Head of Emerging Debt at F&C, said:

“With the merger now successfully completed I am relishing the prospect of being able to focus my time and energies on managing client portfolios and further developing our successful emerging debt business. This is a leading franchise for F&C and an important higher margin business area. I have every confidence that Jacob is the right person to take on this role and I am looking forward to working with him.”
 
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Notes to Editors

F&C Asset Management plc:

• F&C Asset Management plc (F&C) was created on 11 October 2004 from the merger of F&C (Group Holdings) Limited and ISIS Asset Management plc.
• Shares in F&C are listed on the London Stock Exchange under the code FCAM. Friends Provident is the majority shareholder with a 51% stake in the F&C.
• F&C is a pan-European business managing £124.8 billion (as at 31 December 2004) for a diverse range of institutional, insurance and retail clients. F&a