Chief executive of Rathbone Unit Trust Management (RUTM) Mike Webb (pictured) is set to retire at the end of 2023, the firm has announced.
He has held the role for almost 14 years, while he is also head of financial adviser distribution for the wider Rathbones Group.
Current CIO of Rathbones fund business Tom Carroll will take over as RUTM chief executive at the end of the year. He joined the firm in March 2022 after a role as head of asset management at Sanlam Investments.
See also: Rathbones Group assets edge up to £60.9bn
Jayne Rogers will also take up the newly-created roles of executive chair of RUTM and chief distribution officer of the wider group. She joins Rathbones after four years at Morgan Stanley Investment Management, where she was EMEA head of strategic initiatives.
Rogers will be joined on the RUTM board by Rathbones Unit Trust COO Emma Renals.
Paul Stockton, chief executive of Rathbones Group, said: “I wish to thank Mike for his outstanding leadership of the funds business and immense contribution to the wider group. We’ve seen RUTM grow into a trusted and respected fund management house, enjoying strong and growing relationships with financial advisers across the UK and internationally.
“His legacy will remain the foundation of the business. I know I speak for the whole of Rathbones as I wish him all the very best for a well-earned retirement at the end of this year.”
Webb added: “I leave Rathbones’ funds business and financial advice distribution business in the most capable hands with Jayne and Tom, who will continue to develop the strengths of Rathbones, providing a first-class service to our adviser clients.
“I’m enormously privileged to have worked at this remarkable company and am proud of the fantastic team of people who have made the past fourteen years so fulfilling. I wish Rathbones well for what I know will be a very bright future.”
A spokesperson for Rathbones has also confirmed to Portfolio Adviser the departure of head of collectives research Alex Moore.
He joined Rathbones in 2015 after stints at British Steel Pension Fund and Dimensional Fund Advisors, where he specialised in Asia-Pacific and emerging markets equity portfolio management.
Senior research analyst Emma Saunders will take over as acting head of collectives on an interim basis.
See also: Alan Dobbie Q&A: Banks have been an interesting place to be
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