Campbell Fleming, the chief executive of Martin Gilbert’s Assetco, will step down at the end of June, the firm has announced.
Fleming (pictured) departs for personal reasons, having overseen the formation of the company, including numerous acquisitions, during his 20 months in the role.
In an announcement on the London Stock Exchange, the company said it does not plan to replace Fleming directly; instead, Gilbert and Gary Marshall, chief finance and operations officer, will assume his principal responsibilities.
Gilbert will be responsible for the overall strategic direction of the group, as executive chairman, while Marshall oversees day-to-day operations.
Assetco confirmed that Alex Hoctor-Duncan, who leads the River and Mercantile brand, is already taking on additional responsibilities.
The news follows an underwhelming set of half-year results for the group, in which it reported a loss of £13.8m.
Fleming became CEO in October 2021, having left his global head of distribution and marketing role at Aberdeen Asset Management in September 2020.
Fleming said his 20 months as chief executive of Assetco had been “extremely demanding” and that his attention would turn to pursuing additional non-executive roles.
He is currently chairman and director of impact investing platform The Big Exchange.
Gilbert said: “On behalf of the board, I would like to thank Campbell for his contribution to the development of Assetco.
“The board and I are grateful to Campbell for his efforts and hope to continue our long association with him in supporting and guiding some of our underlying businesses.”