Richard Buxton has stepped down as the chief executive of Merian Global Investors following a management buyout and rebranding of the business from Old Mutual Global last year.
As a major shareholder, Buxton will remain on the Merian’s board and continue to lead the equities team and manage his UK Alpha fund.
His successor, Mark Gregory, the former chief financial officer of Legal & General joined the firm’s board in October last year as independent non-executive director.
Buxton said: “2018 was a momentous year for Merian Global Investors. With the management buyout and rebranding complete, I believe this is the appropriate time for me to hand over the CEO role.
“I am completely committed to the business and I will continue to be involved in its development, in my role on the board. Having known Mark for many years, I am absolutely convinced that he is the right person to take the business forward.
“My passion for investment is as strong as ever and I think there are some great opportunities in UK equities today.
“I will continue to seek undervalued and attractive businesses, while actively working with firms to improve corporate governance. I look forward to delivering long-term returns for our clients for many years to come.”
“I have been incredibly impressed by the Merian Global Investors team’s enthusiasm for building a differentiated asset manager and I’m honoured to be taking on the role of chief executive,” Gregory added.
“Together with the talented executive committee, I am dedicated to delivering the business’s ambitious growth plans, while maintaining the special culture cultivated under Richard’s leadership.”