Daniel White has returned to his old job at Newton Investment Management, nine months after leaving it for Dresdner RCM.

White joined Dresdner RCM at the beginning of 2001 to manage its £14m (€23m) European smaller companies unit trust and to be an addition to the firm's Frankfurt-based European equity team generally. A spokeswoman for Dresdner RCM said the management then changed its mind and decided to run the unit trust from Frankfurt, leaving White without a role.