Evolution star chosen to lead top hedge fund

 
Michael Bow
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INVESTEC executive chairman and former rugby union star Alex Snow has been appointed chief executive at one of London’s biggest hedge funds, Lansdowne Partners.

Snow, who set up City brokerage Evolution Securities before selling it to Investec in 2011, will replace retiring chief executive and Lansdowne co-founder Sir Paul Ruddock, who announced his retirement in March.

Snow, a former Harlequins and England second-row forward, will take up the role in September and become a partner at the firm.

“Lansdowne has an enviable heritage and I look forward to helping it develop its position as one of the leading investment firms in Europe,” he said.

Suzi Nutton, Lansdowne’s long standing head of operations, will also become chief operating officer.

Snow sold Evolution Securities, which he founded in 2001, to Investec for £230m before accepting an executive chairman’s role at its investment banking and securities division

Lansdowne is one of Mayfair’s biggest hedge funds employing 87

people and running $13.4bn (£8.79bn). It was co-founded by Ruddock in 1998 alongside Steven Heinz, who now runs the firm’s $2.4bn European strategy fund. Its biggest strategy, the developed markets fund, has about $10bn of assets under management under the stewardship of Stuart Roden and Peter Davies.

Snow will not run money at the company but will take on regulatory compliance and investor relation tasks in his role as executive.

Ruddock is retiring to pursue philanthropic ventures. He is chairman of the V&A Museum.