His current deputy, Philip Howell, will take over the reins from 1 March 2014, but will join the boards of Rathbone Brothers and Rathbone Investment Management with immediate effect.
Pomfret joined Rathbones in 1999 as group finance director and became chief executive in 2004. Howell joined in March this year from Williams de Broe, where he was chief executive.
Mark Nicholls, Rathbones’ chairman, said: “Rathbones has flourished under Andy's strong leadership and we all wish him well in his future career. It is a tribute to Andy's farsightedness that he brought in Philip as a potential successor at the beginning of the year. Philip has become a key part of the senior team and I am delighted that he is taking over as chief executive. The handover is already underway and I am confident that, under Philip, Rathbones will continue to prosper.”
Pomfret was previously a non-executive director of Beazley plc and is also NED at Graphite Enterprises Trust.
Upon his retirement, he will receive a termination payment of his base salary for the remainder of his contractual notice period.
He will continue to receive deferred profit share payments for 2013 and previous years until the third anniversary of the end of the financial year in which they were allocated. Three long-term incentive plan awards will continue until their maturity, subject to performance conditions, applied pro rata for 2013.
With funds under management growing under his tenure as CEO, from £7.7bn at 31 December to £20.8bn at 30 September 2013, Pomfret said he was looking forward to using his experience to develop a “plural career”.
Howell added: “Leadership of Rathbones is one of the great privileges in our industry. I very much look forward to working with my colleagues to build on Rathbones' well-earned position at the forefront of investment management and client service.”
