Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Henderson chair Pennant-Rea to quit as corporate structure revamp is unveiled

Henderson chair Pennant-Rea to quit as corporate structure revamp is unveiled

The chair of Henderson Group Rupert Pennant-Rea will stand down from the board in May, investors were told, at the same time as wider corporate structure changes were unveiled at the company.

By the time of his departure next year, Pennant-Rea will have been a director at Henderson for almost nine years and announcing his intention to leave Pennant-Rea said the company had 'come a long way' since his arrival.

'I am leaving the company and board in good shape,' he said, in a statement issued to the stock market.

Pennant-Rea decision coincides with his appointment to the Royal London Group board as a non-executive director and chairman designate.

Henderson said that a 'comprehensive search' for his successor is already underway.

In addition, Henderson used the same statement to the market to announce a raft of other changes, including a shift in its tax residency from Ireland to the UK by means of a corporate restructuring and a move which sees all of the group's strategic decision making move to Britain as well.

As a result of this change Henderson said its board had decided to reduce its number of executive directors.

David Jacob and James Darkins stepped down with effect from 12 December.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Video special: what Scottish DFMs think of SNP election flop

Video special: what Scottish DFMs think of SNP election flop

As delegates gathered for Citywire Scotland, we asked them their take on the election.

Play Keith Skeoch: 'passive has a part to play'

Keith Skeoch: 'passive has a part to play'

In the third part our series, Skeoch outlines his vision for Standard Aberdeen.

2 Comments Play Keith Skeoch: why I believe markets will make 'substantial returns'

Keith Skeoch: why I believe markets will make 'substantial returns'

In an exclusive interview, Standard Life CEO Keith Skeoch tells us why he takes an optimistic view on markets just about everywhere.

Read More
Your Business: Cover Star Club

Profile: Rathbones' fund boss on spotting emerging talent

1 Comment Profile: Rathbones' fund boss on spotting emerging talent

A great fund manager is really easy to spot, says Mike Webb, chief executive of Rathbones Unit Trust Management

Wealth Manager on Twitter