Brooks Macdonald founder John Gumpel is stepping down as manager of the IFSL Brooks Macdonald Defensive Capital (DCF) fund and leaving the firm after 28 years.
Gumpel (pictured) will leave in March 2020 and hand over management of the fund to Niall O’Connor who has been deputy manager on the £663m strategy since 2016.
Gumpel founded Brooks Macdonald in 1991 along with group chief investment officer Richard Spencer. The Defensive Capital Fund was launched in March 2010 and picked up a gold award in the absolute return category at this year’s Portfolio Adviser Fund Awards.
He said: “With both the company and the fund in very good shape, after 28 years at Brooks Macdonald, now is the right time to step back from the business, and I’m pleased to leave the fund in Niall’s capable hands. I’ve enjoyed working with Niall over the last three years and am sure he will continue the success story of DCF.”
O’Connor joined Brooks Macdonald in 2013 and has more than 20 years of investment experience including stints as an analyst at Credit Suisse and Deutsche Bank and as part of the Nevsky Capital team.
He will report to Spencer in his role as manager for DCF.
O’Connor said: “I’m confident that we will continue to deliver on the fund’s mandate and build on the long history of strong risk-adjusted returns.”
Brooks Macdonald chief executive Caroline Connellan said: “DCF has been a critical part of the group’s strong performance and remains core to our offering going forward. As part of our succession planning, I’m delighted that Niall is taking over as fund manager and I have every confidence that DCF will continue to go from strength to strength.
“On a personal note, I am particularly grateful to Jon for the support he has given me since I arrived in 2017. As one of Brooks Macdonald’s co-founders, Jon has made an outstanding contribution to the firm throughout his time here. I wish him all the very best for the future.”
