Foord Appoints Deputy CIO

Foord Asset Management has made an important addition to its investment team by appointing Daryll Owen into the position of Deputy Chief Investment Officer (“Deputy CIO”) from 2 September 2013. The role of the Deputy CIO is a new role and was created with Daryll’s appointment. The objective is to add operational capacity to the office of the Chief Investment Officer without affecting the portfolio management arrangements in place for client portfolios.

The position of Deputy CIO will therefore bring additional rigour to processes already in place at Foord.

As CIO, Dave Foord retains overall responsibility for the investment team and performance at Foord. However, having the support of a dedicated deputy will free him from many of the most time-consuming operational and people management aspects of the CIO’s responsibilities. This will allow him to spend more time on the management of the local and international portfolios and on the development and training of the non-South African investment team, based in Singapore. Given that most of Foord’s South African mandates include a material allocation to Foord’s foreign portfolios, having a strong team abroad and a defined succession plan is especially important.

Daryll’s long experience in the markets and intimate knowledge of the role of the CIO puts him in good stead to add immediate value to the team and to Foord’s client base.

Paul Cluer
September 2013