Garrett-Cox, Courlier Leave Morley, Axa

Jan 30 2007 | 3:15pm ET

A pair of British female hedge fund executives are on the move.

Katherine Garrett-Cox, who served for two years as chief investment officer at London-based Morley Fund Management, has resigned to assume the same post at Dundee, Scotland-based Alliance Trust. The move comes just days after the appointment as CEO of Scottish Widows executive Chris Phillips.

Morley head of strategy Adrian Jarvis is to succeed Garrett-Cox on an interim basis, beginning in March.

Also bolting is Axa Investment Managers’ Véronique Courlier, the Financial Times reports. Courlier, who, like Garrett-Cox, had been on the job for about two years, is reportedly departing over a difference in strategy. An Axa statement called the decision a “mutual separation” allowing Courlier to pursue “new opportunities.”

Courlier joined Axa with a mandate to establish a centralized hedge fund division. She was reportedly unhappy with Axa’s decision to allow its other business groups—notably Axa Framlington and Axa Rosenberg—to set up long/short funds independent of Courlier’s group.

Chris Manser, head of alternative investments at recently acquired Winterthur, takes over as head of Courlier’s former group.

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