Hedge pioneer Ruddock quits Lansdowne

 
Michael Bow
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TOP financier Sir Paul Ruddock yesterday announced he was stepping down as chief executive of hedge fund Lansdowne Partners to spent more time pursing his interest in the arts.

Ruddock, who is chairman of the Victoria & Albert Museum and trustee of the Metropolitan Museum of Art (MOMA) in New York, will leave the firm he co-founded at the end of June but will retain a significant financial stake in the business. A search is now on for his successor.

Ruddock co-founded Lansdowne in 1998 along with Steven Heinz and built it into one of Mayfair’s best known hedge funds.

Ruddock, who was born in Solihull and educated at King Edward’s School in Birmingham, has been a leading light in arts and philanthropy ventures, funding arts and social projects.

Ruddock has also been a big donor to the Conservative Party in past years, giving around £500,000.