Jupiter Fund Management's final link with TA Associates will end in a two months as Maarten Slendebroek takes over the reigns at the fund firm.
Michael Wilson will step down from Jupiter's board on 21 May. His resignation follows news that TA Associates had put its remaining 10.6% stake in the firm on sale on 5 March.
As it no longer has an interest in Jupiter, TA is not entitled to nominate one non-executive director to the company's board. This arrangement was set up in the relationship agreement the pair entered on 2 June 2010.
The news comes Slendebroek officially takes over as chief executive of the company, replacing Edward Bonham Carter (pictured), who remains on the board in a new vice chairman role.
'The board has greatly appreciated the insight and support Mike has provided over the past seven years. We would like to thank him for his commitment and wish him success for the future,' Jupiter chairman Jamie Dundas told the stockmarket.
Wilson added: 'It has been a pleasure to have played a part in Jupiter's many achievements and the Company, under Maarten Slendebroek's leadership, is well-placed for the future. I will follow the team's progress with great interest.'