Investment management group Rathbone Brothers has said this morning that chief executive officer (CEO) Andy Pomfret will be retiring at the end of February. Current deputy chief executive, Philip Howell, will step into the breach on 1 March.
Howell has been with the company since March of this year and was most recently CEO of Williams de Broe, part of the Evolution Group, from June 2010 to May 2012.
Pomfret joined the UK-based wealth manager in 1999, becoming CEO in 2004. He commented: "I believe it's now time to use my experience as both a CEO and a non-executive director to develop a plural career." During Pomfret's time as leader, funds under management rose from £7.7bn at the end of 2004 to £20.8bn at 30 September 2013.