Rathbones Group Plc announced that Mike Webb is retiring at the end of the year after nearly 14 years leading Rathbones? unit trust business, handing the reins to Sanlam Investments co-founder Tom Carroll. Rathbones has appointed Sanlam Investments co-founder Tom Carroll as chief executive of Rathbones Unit Trust Management (RUTM). Jayne Rogers will also take on the newly-created role of executive chair of the funds division. Both appointments will be based in London and are subject to FCA approval. Carroll is replacing Mike Webb who is set to retire at the end of this year. Webb is also head of financial adviser distribution for Rathbones Group. Webb retires after nearly 14 years as CEO of RUTM, and has seen the division grow its assets from £1 billion to £12.2 billion. Prior to Rathbones, Webb was head of business development at Hermes for three years, and was CEO of Invesco Perpetual between 1998 and 2004. Carroll joined Rathbones in March last year as CIO of RUTM after 15 years at Sanlam Investments, which he co-founded in 2006. He has also held fund management roles at Schroders and M&G.
Rogers joins from four years at Morgan Stanley Investment Management where she was latterly EMEA head of strategic initiatives. In her new role, she will work closely with Carroll on RUTM?s strategy and growth ambitions. Prior to Morgan Stanley, Rogers held asset management roles at Northern Trust, Robeco, KPMG, and Mercer. Rogers will also take over as chair of the RUTM board, replacing Rathbones group CEO Paul Stockton.