Newton Execs Take Money and Run

July 5, 2001 ( ? Newton Investment Management, a British fund management company, has lost its chief executive officer, its chief investment officer and two fund managers.

The departures follow the payout of deferred bonuses put together when Mellon Financial Corporation’s acquisition of 75% of Newton three years ago, according to a Reuters report.

Jon Groom, the current president of Mellon Global Investments, will replace Chief Executive Colin Harris, who will remain in an advisory role for the next year.

Also departing are chief investment officer Charles Richardson, Newton?s Higher Income fund manager, Toby Thompson, and institutional fund manager Jan Etherden.