Rupert Clarke is stepping down as chief executive of Hermes Fund Managers.
Current head of investment Saker Nusseibeh will take over the role of acting chief executive, pending the completion of an external search for a replacement.
Clarke, who has been in the role for four years, said: “Hermes has gathered an outstanding group of investment professionals who are committed to delivering sustainable outperformance for their clients. With the first phase of the Hermes transformation complete I feel that now is the right time to leave.”
Hermes Fund Managers chairman Paul Spencer said: “Over the past four years under the leadership of Rupert we have undergone a major investment programme to build the right operational and investment infrastructure, and we have now completed this first phase of our evolution.
“We now move into the next stage of our growth and reaffirm our commitment to being a first class asset manager in the institutional market. “
Nusseibeh said: “We thank Rupert for his dedication to Hermes and for all that he has achieved and wish him every success for the future. With the business becoming more outward facing, this is a very logical next step in our evolution. We want the market to recognise us as a growing investment manager with a diverse range of successful investment boutiques across equities, fixed income and the alternatives space.”
bridget.oconnell@estatesgazette.com
