Manduca joined the broking firm Colgrave & Co after graduating from Oxford, before moving into asset management. Manduca became a portfolio manager at Rowe & Pitman, which has since become part of S G Warburg, before running a range of funds and eventually becoming head of small company funds at Hill Samuel Asset Management in the early 1980s; the peak period for the Unlisted Securities Market. In 1983 he joined Touche Remnant, the investment trust manager and was appointed CEO of the TR Smaller Companies Investment Trust and TR Industrial and General Trust. In 1989 he became CEO of Touche Remnant and engineered a £50m takeover by French banking group Société Générale. The French bank subsequently sold Touche to Henderson Group, in 1992. From 1994 to 1999, Manduca was founding CEO of Threadneedle Asset Management Limited, during which time he was also a director of Eagle Star Insurance and Allied Dunbar. Between 1999 and 2002 he was CEO of Rothschild Asset Management and was European CEO of Deutsche Asset Management from 2002 to 2005.
Non-executive roles
Manduca has held several directorships, including as a non-executive director of Wm Morrison Supermarkets plc, the UK supermarket chain, from 2005 to 2011. During that time, he was the Senior Independent Director, a member of the Nomination Committee and Chairman of the Remuneration Committee, and prior to that he set up the Audit Committee. He also served as a director and Chairman of the risk and reinsurance consultancy Aon UK Limited from 2006 to 2012. He chaired Bridgewell Group plc from 2006 to 2008 and was a director and Chairman of JPMorgan European Smaller Companies Investment Trust from 2005 to 2012. Manduca joined the Board of Prudential plc as the Senior Independent Director in October 2010. He served as a member of Prudential's Audit and Remuneration Committees from October 2010 to June 2012 and as a member of the Nomination Committee from January 2011. He was named chairman of the board in July 2012, taking over from Harvey McGrath. At the same time, he was named Chairman of the Nomination Committee. Manduca is also Chairman of Henderson Diversified Income Limited, an independent global asset management fund. In 2015 he became Chairman of the Templeton Emerging Markets Investment Trust. In July 2017 Manduca became Chairman of RateSetter, the online Peer to Peer Lending Platform.
Wider industry roles
Manduca is Chairman of TheCityUK's Advisory Council. TheCityUK is a membership body that champions UK-based financial and related professional services, lobbying on the industry's behalf and producing evidence of its importance to the wider UK economy. He was Chairman of the Association of Investment Companies from 1991 to 1993, and is a former member of the Takeover Panel.
