UK-based Newton Investment Management, part of the BNY Mellon group, has appointed a new head of dealing after the exit of long-standing incumbent Anthony Russell, AsianInvestor can reveal.

Succeeding him is Huw Gronow, who joined this month from US fund house Principal Global Investors, where he was head of equity trading for Europe and Asia. He remains in London for the new post.

Before joining Principal in September 2004, Gronow was an equity trader at BlackRock and before that TT International Investment Management.

His last day at Principal was September 19, and the firm is interviewing for his replacement.

Russell left Newton to pursue other opportunities after nearly 20 years with the firm and serving as head of dealing since 2013. He had joined the firm in 1997 and worked in operations before becoming an equity dealer in 2000. 

Newton had £54.6 billion ($66.7 billion) in assets under management as of September 30, across Asia Pacific and emerging equity, fixed income, global equity, multi-asset, real return and UK equity. 

Separately, Principal Global this month added Suresh Singh as its Asia head of fund distribution and reorganised its sales team to strengthen its focus on wealth management channels, as reported.