LONDON (dpa-AFX) - Rathbones Group Plc (RAT.L) announced Thursday the appointment of Jonathan Sorrell to succeed Group Chief Executive Paul Stockton, who will retire on September 30.
Sorrell will join the business as CEO designate, subject to regulatory approval, on July 1. He will be appointed to Rathbones Group Plc and Rathbones Investment Management Limited Boards upon receipt of regulatory approval, at which time Stockton will retire from both Boards.
Stockton is retiring after 16 years with Rathbones, six years of which as Group Chief Executive. He will remain available for handover support thereafter until December 31.
Stockton was appointed Group Chief Executive in May 2019, having served as Managing Director of Rathbones Investment Management from May 2018. Prior to that, he was Group Finance Director from 2008. He had indicated to the Board earlier his desire to retire on his 60th birthday which will be in the second half of 2025.
Sorrell joins Rathbones from Capstone Investment Advisors, a derivatives investment management firm, where he has been President from January 2020. Prior to that, he was Chief Financial Officer and then President of Man Group plc.
Clive Bannister, Chair of Rathbones, said, 'Jonathan brings a formidable leadership track record at the most senior level of the broader investment and asset management industry, working across complex global organisations. In an excellent field of potential candidates, his investment background and experience combined with his energy, ambition and a clarity of strategic thinking stood out to the Board.'
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