Artemis Investment Management – Raheel Altaf has joined Artemis Investment Management as a fund manager. He will work alongside Philip Wolstencroft and Peter Saacke, managing the three funds they run: Artemis Capital, European Growth and Global Growth. Altaf was a portfolio manager at Fulcrum Asset Management until December 2013, and before then portfolio manager at Fidelity International. ERI Scientific Beta – ERI Scientific Beta, the smart beta index unit of the EDHEC-Risk Institute, has announced the make-up of its international executive management team covering Boston, London, Nice, Paris, Singapore and Tokyo. The team consists of Noël Amenc, Lionel Martellini, Patrice Retkowsky, Reynald Mauguin, Mélanie Ruiz, Candice Lebastard, Felix Goltz and Peter O’Kelly. Insight Investment – Svein Floden has been hired by Insight Investment as head of business development for liquid alternatives in the Americas. He will report to the UK asset manager’s global head of distribution Philip Anker. Floden joins Insight from Deutsche Bank Asset and Wealth Management, where he was most recently head of hedge fund sales and marketing for Wealth Management Americas. Before working at Deutsche, he was at Citigroup’s Private Bank in New York.Standard Life Investments/Jupiter – Matthew Williams is joining Standard Life Investments as manager of its Global Emerging Markets (GEM) Equity Unconstrained fund. He will be supported by Ronnie Petrie, head of global emerging markets. Williams has been deputy manager of the GEM Equity Unconstrained SICAV since the fund started and has been in the emerging market team since 2010. The appointment follows the resignation of Ross Teverson, an investment director within the GEM team. Teversen has now joined Jupiter as head of strategy for global emerging markets. He will start at the asset manager in November, after 15 years at Standard Life Investments. Pensions Trust, AP2, Allianz Global Investors, Artemis, ERI Scientific Beta, Insight Investment, Standard Life Investments, JupiterPensions Trust – Paul Murphy has been appointed head of strategy and business development at the Pensions Trust. His most recent prior role was director of corporate development at the Peoples Pension. In the newly created role at the trust, Murphy will lead strategic business development, covering areas including business planning, business development and PR and communications. The trust said the role had been created as part of a restructuring exercise.AP2 – Johnny Capor has been appointed by the Swedish government as a new member of AP2’s board of directors. He is CFO at Sweden’s retail cooperative Kooperativa Förbundet (KF). Allianz Global Investors – Mark Guirey has been hired as director of UK institutional business development at Allianz Global Investors (AllianzGI). He will be based in London. Guirey’s most recent role was sales director in BlackRock’s UK institutional business. He will report to Andy Wiggins, head of UK institutional at AllianzGI.
We all know the story of how the PlayStation came to be. Sony decided to go it alone after things didn’t work out producing a CD-ROM unit for the Super Nintendo. Well, it seems a very similar situation happened that inevitably saw Microsoft decide to develop the Xbox, only this time it was Sony who forced Microsoft’s hand.Joachim Kempin, former vice president of Windows Sales (1983-2002), has explained how the original Xbox came to be. It turns out it was Sony’s fault, simply because the Japanese company wasn’t very friendly towards Microsoft, and Microsoft eventually decided they had to “stop Sony.”Apparently, long before the Xbox was even an idea, Microsoft was trying to collaborate with Sony in a number of areas they thought there was overlap. That collaboration was sought before even Sony had a games console coming to market, and would have focused on products for the entertainment sector.Sony didn’t want to know, though, seeing Microsoft simply as a company they were licensing Windows from. Therefore as soon as it became clear Sony was going to make an assault on the living room with the PlayStation, Microsoft decided it had to react and ultimately try and beat them. They’ve been fighting for space under our TVs ever since.Microsoft was new to the games hardware market, and Kempin even admits the company copied Sony’s model of trying to make the money back from the hardware investment on software royalties.So Sony only has itself to blame for having such a strong rival today in the games market. If they’d just been a bit friendlier to Microsoft a couple of decades ago we may have never seen an Xbox console. Maybe Microsoft just wanted to provide the operating system on Sony’s entertainment devices? But we all know how that worked out for another Japanese company who no longer produces games consoles, don’t we?