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(Sharecast News) - Polar Capital announced on Monday that chief executive Gavin Rochussen would retire after eight years in the role.
He would step down from the board and his CEO position following the company's annual general meeting on 25 September, but would remain with the group during his notice period to assist with the transition.
"It has been a privilege to have led Polar Capital through this challenging eight-year period and to have worked with amazing colleagues in a firm with a strong culture that is focused on outcomes for clients and shareholders," said Gavin Rochussen.
"I will hand over leadership to a long-standing colleague, Iain Evans, who has been global head of distribution at Polar Capital for the past two decades during which he has been responsible for the incredible diversification and growth of the distribution footprint.
"Given the diverse range of differentiated investment strategies and the solid leadership foundation, I am confident that Polar has the attributes to continue to prosper and grow."Iain Evans, currently Polar Capital's global head of distribution, had been appointed CEO designate and would assume the role, subject to regulatory approval, in September.
Evans had been with the company for over two decades, and had led the expansion of its distribution footprint beyond the UK.
"I am honoured to be appointed CEO and would like to thank the board, and Gavin Rochussen, for their trust and support," commented incoming CEO Iain Evans.
"I have been deeply invested in Polar Capital's success for over 20 years and have seen first-hand how the firm has grown - not just in scale and geographic reach, but in reputation and resilience.
"We have a strong platform, a distinctive culture, and a differentiated product range that continues to set us apart."
At 1229 BST, shares in Polar Capital Holdings were up 3.26% at 474.5p.
Reporting by Josh White for Sharecast.com.
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