(Alliance News) - Investment firm Alliance Trust PLC on Wednesday said Lomas Capital Management LLC will no longer be one of its stock pickers following the New York-based firm's decision to wind-down.
Lomas is being wound-down after two of its senior portfolio managers announced their intention to retire.
Willis Towers Watson PLC, Alliance Trust's investment manager, is reallocating the parts of the FTSE 250-listed company's portfolio which were managed by Lomas. These will be reallocated among the remaining eight stock pickers.
"The termination of Lomas' appointment will be effective once the reallocation has been completed," Alliance Trust added.
Alliance Trust has holdings in a range of global blue-chip companies including Microsoft Corp, Amazon.com Inc, Visa Inc and Novo Nordisk AS.
Shares in Alliance Trust were 0.4% higher at 900.47 pence each in London on Wednesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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