Polar Capital Holdings appoints new CEO

19th Jan 2017 08:54

(ShareCast News) - Polar Capital Holdings, an investment management boutique, announced the prospective appointment of Gavin Rochussen as its new chief executive. Rochussen will succeed Tim Woolley in July 2017, after which his predecessor will move to a non-executive position.Previous to the appointment Rochussen was group CEO of J O Hambro Capital Management group (JOHCM), an active equity investment boutique acquired by Australian listed fund management group BT Investment Management. Under his leadership, from 2008 to 2016, the business grew from £1.5bn worth of equity assets under management to £23.9bn at 30 September 2016.Prior to JOHCM, from 2003 to 2008, he was CEO of Fleming Family Partners.Chairman Tom Bartlam said: "Gavin has a proven track record of successfully managing a boutique equity investment house and we are all excited at the opportunities in front of us as Gavin takes over the reins at Polar Capital."We all owe Tim a great debt of gratitude for leading the firm, which he founded with Brian Ashford-Russell and Caledonia Investments plc, so well over the past seven years and having grown assets under management from £1.2bn when he returned, as CEO in November 2009 to £8.4bn at 31 December 2016. We are also pleased that that Tim will continue to serve on the Board and that the Group will continue to benefit from his expertise."The share price rose 4.55% to 379.50p at 1112 GMT on Thursday.