The company said it will conduct an external search for a replacement for Clarke but that in the meantime the firm’s current head of investment, Saker Nusseibeh, will be acting CEO.
Hermes, which is wholly owned the by the BT Pension Scheme, has assets under management of £20.9bn ($32.5bn, €24.2bn) and assets under advisement of £89bn. Headquartered in London, it also has operations in Boston, New York and Sydney.
Commenting on Clarke’s departure, chairman Paul Spencer said: “Over the past four years under the leadership of Rupert we have undergone a major investment programme to build the right operational and investment infrastructure and we have now completed this first phase of our evolution. We now move into the next stage of our growth and reaffirm our commitment to being a first class asset manager in the institutional market.”