Morley Fund Management
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Aviva Investors is an asset management company and is part of the Aviva group. It has global assets under management of over £315 billion, including (£41 billion of UK and international equities), fixed income (£144 billion of fixed-income assets, bonds and money market instruments), investment solutions, multi-asset, and property investments (£24 billion of UK and European property assets, making it one of the largest property fund managers in Europe).
Aviva Investors employs over 1,000 staff, including 400 investment managers, research analysts, economists and strategists (as at December 2013). The majority of employees are based in London.
The London unit, previously known as Morley, was founded in 1971 as Geoffrey Morley and Partners, This was bought by Globe Investment in 1988 and sold to Commercial Union, becoming CU Morley in 1990 and rebranded as Morley Fund Management.
This organisation became the London-based asset management division of CGU in 1999 following the merger with General Accident and in 2000 Morley merged with Norwich Union Investment Management following the earlier merger of CGU with Norwich Union.
Aviva plc was created following the merger of CGU (Commercial General Union) and Norwich Union in May 2000 but its roots can be traced back over 300 years.
Norwich Union was founded in 1797, while CGU origins go back to 1696 when ‘Hand-in-Hand’ (one of the earliest fire insurance companies) was established. This was one of many companies that later became absorbed into CGU. The merger of CGU plc and Norwich Union plc in May 2000 created a successor company, Aviva plc (formerly CGNU plc) following the purchase of Geoffrey Morley & Partners. In July 2000 the asset management businesses of Morley Fund Management Ltd and Norwich Union Investment Management Ltd were merged. This business subsequently became Aviva Investors Global Services Limited in September 2008.
The Central Bank of Ireland fined Aviva Investors in July 2011 for failing to have proper controls and procedures surrounding the safeguarding of client assets.
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