RWC Partners chief executive Dan Mannix is stepping down and leaving the business after eight years in the role.
He is being replaced by the firm’s head of business development Tord Stallvik who has been with the firm since 2015 when RWC acquired a 15-strong team from Everest Capital. Stallvik is a member of RWC’s executive committee.
Stallvik has 25 years’ experience in asset management. Before joining Everest Capital, he was a president at Protégé Partners, an alternative investment seeding firm.
Mannix (pictured) is remaining available to the management for a short time to assist with the handover.
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Mannix joined RWC in 2006 as head of business development from JP Morgan Asset Management. He became CEO in 2010 after the departure of Peter Harrison to Schroders.
RWC has made several acquisitions under Mannix’s tenure. In 2010 he lured equity income specialists Nick Purves and Ian Lance from Schroders and more recently, in November last year, Nick Clay and his global equity income team from BNY Mellon Investment Management.
See also: Nick Clay: ‘Plugging and playing’ at RWC allows us to control our own destiny
In September last year, Purves and Lance took over management of the Temple Bar Investment Trust from Ninety One after Alastair Mundy left the firm.
The duo were also chosen to run half of the £3.5bn SJP UK Equity mandate, previously run by Neil Woodford, along with Columbia Threadneedle’s Richard Colwell.
