Lansdowne Partners, the hedge fund manager, has announced that Sir Paul Ruddock is to retire as chief executive to focus on his work in the arts and on charity work.
Ruddock is presently chairman of London's Victoria & Albert museum. He co-founded Lansdowne Partners with Steven Heinz in 1998. Lansdowne now manages £8.2bn and its main fund, the Developed Markets fund, stands at £5.9bn and returned 18 per cent last year. It is currently up 7.5 per cent for the year.