After a decade with the firm, Grisay is to retire in a year’s time, at the end of the third quarter next year, formally stepping down from the Board and as group chief executive officer – a role he has had for the past six years – at the annual general meeting in May.
He will take on a consultancy role until his retirement at the end of September 2012.
Bramson has been appointed by the Board as executive chairman for an interim period with immediate effect although until May Grisay will retain day-to-day responsibility for the operational management of the firm.
Bramson, who is to take over the Group’s strategy immediately, is the activist shareholder and founder of Sherborne Investors, who took over control of F&C earlier this year when he called for the then chairman, Nick MacAndrew to resign.
