Looking for New England: SLI adds three to its US operation

Jack Boyce has been named head of US distribution working from SLI’s 40-strong Boston office. He joins the group from the New York offices of Pine-Bridge, the investment management firm controlled by Hong Kong billionaire Richard Li, where Boyce served as managing director and co-head of global distribution.

He will be joined by John Grybauskas from Blackrock, who has been appointed senior vice-president of client services, and Deborah Drachman, who takes over as vice-president of consultant relations from her current post with Citadel Asset Management. All three jobs are newly-created roles.

Boyce will report to Bill Perry, chief executive of Standard Life Investments USA, with primary responsibility for achieving strategic growth targets in the country. SLI has said that expansion in the US, where it has £365 million in assets under management, is an “absolute priority”.

“Jack will lead our US business development and sales team working closely with our global colleagues,” Perry said.

“All three people bring with them strong performance track records, experience and knowledge which will prove invaluable to our clients.”

The appointments follow SLI’s move in January to team up with John Hancock Mutual to make the Edinburgh-based firm’s global absolute return strategies (GARS) fund available to the US retail market.

GARS has been a big seller since its launch in 2008, helping SLI beat asset growth forecasts in the first quarter of this year. The agreement with John Hancock is expected to significantly widen SLI’s distribution into both institutional and wholesale markets in the US.

Colin Clark, director of SLI’s global client group, said the three appointments were welcome additions to the team in Boston, which is dominated by staff dedicated to equities, fixed income and the GARS portfolio.

Last month, SLI picked up a $400m (£258m) mandate from the Illinois Teachers’ Retirement System.