Evolution founder quits two years after selling to Investec

ALEX Snow, the Evolution Securities founder who netted £5.6m when he sold out to Investec in 2011, yesterday announced he would leave the combined business.

Snow, a former England Rugby Union international, said he will “pursue new opportunities” after standing down as executive chairman of Investec’s UK investment banking division.

A company spokesman could not provide further details of his future plans but Snow is expected to remain active within the City.

“We are disappointed to see Alex leave. He has played a key role since joining us last year,” said Investec global investment banking chief Andy Leith. “He departs with our very best wishes and thanks for his efforts.”

Evolution was originally founded in 1999 and was a member of the FTSE 250 when it was bought by South African banking giant Investec for £230m.