BNY Mellon-owned Newton Investment Management has confirmed it is reshuffling the fund managers working on income and managed funds.

Chris Metcalfe is to take over as lead manager of the £1.5 billion managed fund and Richard Wilmot will become the manager of the £1.5 billion income fund.

Metcalfe’s responsibilities will change accordingly and he will now look after both global and UK equities as the managed fund is split between 50 per cent overseas and 50 per cent UK holdings.

Wilmot will continue to manage the £94.7m Growth fund.

Prior to joining Newton, Metcalfe spent over 10 years at Schroder Investment Management where he was director and head of the UK Equity Prime team.

He joined Schroder in 1994 from Henderson, where he spent a decade and rose to the position head of UK equities.

Metcalfe joined in June 2006 as a senior portfolio manager within the brand’s UK Equities team, reporting to Jeff Munroe.