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Insight Investment

Summary

Insight Investment (Insight) is one of the largest global asset management companies,[1] responsible for £683.0 billion of assets under management as of 30 September 2022, represented by the value of cash securities and other economic exposure managed for clients.[2] It manages strategies which include fixed income, liability-driven investment (LDI), cash, absolute return, multi-asset, and equities. Insight is a subsidiary of The Bank of New York Mellon, a multinational financial services corporation.

Insight Investment
IndustryInvestment management
Founded2002; 22 years ago (2002)
Headquarters
London
,
United Kingdom
Area served
Worldwide
Key people
Abdallah Nauphal
CEO
ProductsInvestment management
AUM£683 billion (30 September 2022)
ParentBNY Mellon
BNY Mellon Investment Management
Websitewww.insightinvestment.com

The UK banking group HBOS formed Insight Investment in 2002 by merging its asset management arms, which included Clerical Medical Investment Management.[3] In 2003, Insight Investment acquired Rothschild Asset Management, which specialised in fixed income investments.[4] In 2009, BNY Mellon acquired Insight from Lloyds Banking Group, which formally acquired HBOS earlier that year.[5][6] In 2013, Insight merged with Pareto Investment Management, a currency risk manager.[7] In early 2015, BNY Mellon acquired US-based fixed income and solutions specialist Cutwater Asset Management.[8][9] Insight is headquartered in London and has offices in Boston, Frankfurt, New York, San Francisco, Sydney and Tokyo.[2]

Insight Investment was a founding signatory of the United Nations-supported Principles for Responsible Investment (PRI).[10] Insight is a signatory to the UK Stewardship Code, administered by the Financial Reporting Council.[11][12] Insight is also a signatory to the UN Global Compact.[13]

History edit

Insight Investment was launched in 2002. It was formed from the merger of the asset management arms of UK banking group HBOS: Clerical Medical Investment Management, Halifax Fund Management and the investment division of Equitable Life. Douglas Ferrans was Insight's first CEO and played a significant role in its formation and launch.[3]

In 2003, Insight acquired Rothschild Asset Management, which was well known for its fixed income solutions and multimanager funds, and property investment manager Gatehouse Investment Management.[4][14][15]

In 2006, Insight demerged its property investment unit and floated it on the Aim market at the London Stock Exchange as Invista Real Estate Investment Management.[16][17][18]

In 2007, Abdallah Nauphal became CEO of Insight.[19] He already held a dual role as deputy CEO (from June 2006) and chief investment officer (from September 2003) of the company.[20] He joined Insight as head of fixed income in April 2003 after the acquisition of Rothschild Asset Management, where he was chief investment officer for fixed income. He was previously head of fixed income at Schroder Investment Management.[21]

In 2009, Insight's parent company HBOS was acquired by Lloyds Banking Group (Lloyds).[6] Later that year, BNY Mellon acquired Insight Investment from Lloyds.[5][22][23][24][25][26] Lloyds retained most of the equity assets managed by Insight and transferred them to Scottish Widows Investment Partnership, the group's primary in-house asset manager after the sale of Insight. This left Insight as an asset manager primarily focused on fixed income and LDI strategies.[27] It transferred its headquarters in early 2011 to share a building with BNY Mellon in Blackfriars, London.[28]

In 2012, Insight announced that it would merge with Pareto Investment Management, a currency risk manager with £27 billion of assets under management. The merger was complete at the beginning of 2013. Pareto was also owned by BNY Mellon.[7][29]

In early 2015, BNY Mellon acquired US-based fixed income and solutions specialist Cutwater Asset Management.[8][9][30]

In 2021, BNY Mellon Investment Management in partnership with Insight Investment announced plans to align Mellon Investments fixed income capabilities with Insight. In September 2021, Insight said c.£76bn of assets in fixed income capabilities across stable value, municipal, efficient beta and taxable fixed income strategies had been transferred to Insight. [31]

In July 2021, Insight Investment was named the asset manager whose brand was most respected in the institutional marketplace. Edelman’s Asset Management Brand Index, which looks at the top 50 international managers in the world by AUM, ranked Insight first with a brand score of 83 (out of 100).[32]

Awards edit

Insight Investment has won over 40 industry awards since the beginning of 2019.[33]

In 2022, Insight was ranked in first place for Overall LDI Quality for the 12th consecutive year by Greenwich Associates UK Investment Consultant Research. Insight was also ranked in first place for Overall Quality in Fixed Income: Insight has maintained a top decile ranking for Overall Quality in Fixed Income in every year since 2013.[34]

Sponsorships edit

Insight Investment sponsors the Royal Academy Summer Exhibition,[35] and the Royal Society's Science Book Prize.[36]

Key people edit

  • Abdallah Nauphal - CEO[37][38][30]
  • Andrew Giles – Executive Vice Chairman[39]
  • Andrew Kitchen – Chief Finance Officer
  • Jon Eilbeck - Chief Operating Officer
  • Lynne Dalgarno - Head of Human Resources
  • Ayah Elmaazi - Head of Legal
  • Adrian Grey - Global Chief Investment Officer[40]
  • Angus Woolhouse - Global Head of Distribution[41][42]
  • Mark Stancombe - Chief Risk Officer [43]
  • Serkan Bektas - Head of Client Solutions Group [44]
  • David Leduc - CEO Insight North America [43]

References edit

  1. ^ "Total global AUM table 2016", "Investment Pensions Europe", Retrieved on 27 April 2017.
  2. ^ a b "Introducing Insight Investment"
  3. ^ a b "Insight finds success in total returns", "Investment Week", London, 11 June 2007. Retrieved on 25 April 2012.
  4. ^ a b "Insight buys Rothschild Asset Management", Money Marketing, London, 4 December 2002. Retrieved on 25 April 2012.
  5. ^ a b "The Bank of New York Mellon to Acquire Insight Investment Management Limited", Press release from The Bank of New York Mellon, New York and London, 12 August 2009. Retrieved on 25 April 2012.
  6. ^ a b "FSA approves Lloyds TSB's proposed acquisition of HBOS", Press release from Lloyds TSB, London, 10 December 2008. Retrieved on 25 April 2012.
  7. ^ a b "Insight Investment Management joins forces with Pareto", "Investment Europe", London, 2 January 2013. Retrieved on 3 January 2013.
  8. ^ a b "BNY Mellon Acquires Cutwater Asset Management" Archived 2017-09-04 at the Wayback Machine, Press release from The Bank of New York Mellon, New York and London, 5 January 2015. Retrieved on 22 May 2015.
  9. ^ a b "BNY Mellon acquires fixed income specialist", "FT Adviser", London, 6 October 2014. Retrieved on 22 May 2015.
  10. ^ About the PRI
  11. ^ List of asset manager signatories to the UK Stewardship Code
  12. ^ "Responsible stewardship at Insight" (PDF). Retrieved 2022-04-29.
  13. ^ Insight Investment page on UN Global Compact website
  14. ^ "Insight pays £61m for fund manager", "The Daily Telegraph", London, 5 December 2002. Retrieved on 25 April 2012.
  15. ^ "Insight buys the Gatehouse five", "Financial News", London, 30 September 2003. Retrieved on 25 April 2012.
  16. ^ "Insight floats real estate under Ross Goobey", "Investment Pensions Europe", London, 31 August 2006. Retrieved on 25 April 2012.
  17. ^ "HBOS to float property arm of Insight unit for £270m", "The Independent", 1 September 2006. Retrieved on 25 April 2012.
  18. ^ "Insight plans Aim listing for property manager Invista", "Money Marketing", 7 September 2006. Retrieved on 25 April 2012.
  19. ^ "Insight says Ferrans to be chairman", "Reuters", London, 28 March 2007. Retrieved 25 April 2012.
  20. ^ "Insight assigns Nauphal to deputy chief exec position", "Investment Week", London, 5 June 2006. Retrieved 12 September 2012.
  21. ^ Insight Investment website, Our Team page. Archived by The Wayback Machine. Retrieved on 30 November 2012.
  22. ^ "Insight Investment acquired by Bank of New York Mellon", Press release from Insight Investment, London, 12 August 2009. Retrieved on 25 April 2012.
  23. ^ "Lloyds Banking Group announces asset management plans", Press release from Lloyds Banking Group, London, 12 August 2009. Retrieved on 25 April 2012.
  24. ^ "Lloyds sells Insight Investment to Bank of New York Mellon", "The Guardian", London, 12 August 2009. Retrieved on 25 April 2012.
  25. ^ "Lloyds disposals begin with £235m sale of Insight to BNY Mellon", "The Daily Telegraph", London, 12 August 2009. Retrieved on 25 April 2012.
  26. ^ "Lloyds sells Insight to Bank of New York Mellon", "The Daily Telegraph", London, 12m August 2009. Retrieved on 25 April 2012.
  27. ^ "News Analysis: Curtain falls on Insight's equities struggle", "Financial News", London, 12 August 2009. Retrieved on 25 April 2012.
  28. ^ Insight Investment website, Change of registered office address page (Google cache, retrieved on 12 September 2012)[dead link]
  29. ^ "Insight joins forces with Pareto to create £200bn powerhouse", "Citywire", London, 14 September 2012. Retrieved on 2 October 2012.
  30. ^ a b "U.K.'s Insight Investment Is Taking on the U.S. Bond Giants", "Institutional Investor", 19 October 2016. Retrieved on 27 April 2017.
  31. ^ "Insight communication: an important update"
  32. ^ "Top institutional asset management brands revealed", "Professional Pensions", London, 26 July 2021. Retrieved on 29 April 2022.
  33. ^ Insight Investment website, Our Awards page
  34. ^ Insight Investment website, Key facts about Insight page
  35. ^ Insight Investment sponsorship statement on Royal Academy web site.
  36. ^ Royal Society Insight Investment Science Book Prize web site
  37. ^ "Visionary with exact solutions in mind", "Financial Times", London, 14 May 2007. Retrieved on 25 April 2012.
  38. ^ "Abdallah Nauphal: boutique boss keen to tailor products", "Financial Times", London, 31 October 2010. Retrieved on 25 April 2012.
  39. ^ "Planning for the Endgame", "Financial Times", London, 18 September 2019. Retrieved on 24 February 2020.
  40. ^ "Insight Investment has reduced risk exposure, expects occasional outsized market moves - CIO", "Reuters", London, 11 October 2018. Retrieved on 24 February 2020.
  41. ^ "Former Barings distribution head joins Insight Investment", "Investment Week", London, 6 July 2017. Retrieved on 4 September 2017.
  42. ^ "Insight appoints global head of distribution" Archived 2017-09-05 at the Wayback Machine, Press release from Insight Investment, London, 24 July 2017. Retrieved on 4 September 2017.
  43. ^ a b "Insight North America names new CEO", "Pensions & Investments", New York, 31 March 2022. Retrieved on 29 April 2022.
  44. ^ Insight Website Meet The Team

External links edit

  • Insight Investment website
  • BNY Mellon Asset Management website

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