24th Jun 2019 10:51
(Alliance News) - River & Mercantile Group PLC said Monday it has promoted James Barham to be chief executive officer, starting from next Monday.
Barham is currently the asset manager's deputy CEO and will take over from Mike Faulkner. Faulkner will remain with the company and become Head of Macro Strategies & Innovation, he will also stay an executive director.
River & Mercantile said Barham's ascension is in line with the company's succession plan.
Barham was promoted to deputy CEO back in September as the company shifted its board of directors to focus on its investment research & development. Prior to this, Barham was global head of distribution.
River & Mercantile created a new role to help clients with "more complex needs adopt strategies to exploit macro conditions more effectively". Global Head of Solutions Jack Berry was appointed.
Chief Financial Officer Kevin Hayes took over the Global Solutions division.
On Monday, Faulkner said: "The group has made significant progress over the last five years in the development of its service offerings. Within this, I believe strongly that the opportunities our macro strategies represent for our business to grow will require me to be solely focused on developing and managing these along with new investment strategies to meet our clients' investment needs.
"James and I have worked together for many years growing the business to the successful franchise it is today, and I know he is best placed to take on the role of group CEO from me. We will continue to work closely together in growing the business as we have always done."
Barham, after completing his education at the Royal Military Academy Sandhurst and serving in the British army, was part of the management team that founded and floated Liontrust Asset Management PLC. He was also a founding member of River & Mercantile Asset Management LLP in 2006.
The asset manager said it continues to trade in line with expectations.
Shares in River & Mercantile were down 1.9% Monday at 273.60 pence each.
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