Rathbones calls in Investec executive in post-merger shake-up
City investor Rathbones has appointed a former Investec executive as its new finance chief today as the two money managers merge operations following their tie-up earlier this year .
In a statement this morning, Ratbones said the former UK chief of Investec Wealth and Investment, Iain Hooley, will takeover from the beginning of next year as Mathias shifts into the role of chief of staff to oversee the handover.
The change comes after the two firms struck a deal to create a £100bn money manager in April which trades under the Rathbones brand. The deal completed last week.
Rathbones chair Clive Bannister said Mathias had overseen a period of growth for the firm.
“We are pleased to announce that Iain will succeed Jennifer as Group Chief Financial Officer, subject to regulatory approval,” he added.
“Iain has built up considerable industry and finance experience and has a deep knowledge of IW&I UK, its values and culture. I wish him every success as he takes on his new responsibilities.”
Bosses said the move was being made to “support the integration with Investec Wealth & Investment UK”.