HEDGE fund Lansdowne Partners yesterday appointed fund manager Stuart Roden as its first chairman, just 18 months after its co-founder Sir Paul Ruddock stepped down from the group.
Roden, who co-manages Lansdowne’s Developed Markets Strategy fund, will become chairman at the end of the year to co-ordinate the firm’s internal activities.
Ruddock left the firm he co-founded in 1998 with Steven Heinz in March 2013, with ex-Evolution man and former England Rugby Union international Alex Snow taking over as chief executive in June.
Lansdowne is considered one of the City’s blue chip buyside investors and was on the list of preferred buyers when the government sold its stake in Royal Mail a year ago.
“Stuart will stay actively involved in the Developed Markets Strategy’s investment process, with particular input on risk management and the funds’ larger positions and thematic exposures, and physically will remain with the team,” the business said.
Roden previously worked for Mercury Asset Management, but left the group in 2000 to join Lansdowne, which is based in the heart of Mayfair’s hedge fund district.