Polar Capital has appointed former JO Hambro Capital Management (JOHCM) boss Gavin Rochussen as chief executive.
He will take up the role in July, replacing the asset manager’s current CEO, Tim Woolley, who will stand down and take a non-executive position.
It was announced Rochussen was to leave his post with the BT Investment Management (BTIM) earlier this week. BTIM is the parent company of JOHCM.
Polar Capital said that Rochussen will be receive up to £3 million worth of shares under the terms of its long-term incentive plan (LTIP). He has also committed to buying shares in the company.
In a stock market announcement the firm said: 'In addition to the LTIP award Mr Rochussen has informed the board of his intention to purchase in the market for his own account or via a nominee, subject to the normal rules of the group's share dealing policy, up to one million ordinary shares at a price of up to 300p.'
Rochussen (pictured) led JOHCM between 2008 and 2016, in which time its assets under management rose from £1.5 billion to £23.9 billion, before it was acquired by Australian group, BT Investment Management.
Prior to that he was CEO of Fleming Family Partners.
Polar Capital chairman Tom Bartlam said in a stock market announcement: ‘We are delighted to have attracted someone of Gavin's experience to take over from Tim as CEO of the Group.
'Gavin has a proven track record of successfully managing a boutique equity investment house and we are all excited at the opportunities in front of us as Gavin takes over the reins at Polar Capital.’