Crux Asset Management has confirmed its chief executive Alistair Reid is to retire after a four-decade career in the investment management industry.
The boutique fund house did not detail who would replace Reid (pictured) or when he will retire, except to say it will be in 2020. He had joined Crux as chief executive at launch in 2014.
In a statement, Crux said he would step down from his board role as “direct representative of the minority shareholders” in the first step of his phased retirement.
He saw Crux expand from Richard Pease’s and James Milne’s European Special Situations fund in 2014 to six UK-domiciled funds and two Sicavs in the range today. In 2018, it recruited Richard Penny from Legal & General Investment Management to launch a UK equities offering and the following year it took on two European equity strategies from Sanditon.
Reid started his career in investment in 1979. He joined the board of Morgan Grenfell Asset Management from 1988 to 1993.
From 2005, he was a director of wealth management and unit trust business Thornhill Holdings until it was sold to Cazenove Capital Management in 2010.
He was a member of the Bank of England steering committee on UK securities settlement system Crest.
