Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Richard Wilson to lead F&C as CEO search draws to a close

Richard Wilson to lead F&C as CEO search draws to a close

F&C Asset Management has appointed Richard Wilson as its next chief executive officer, ana analysts have been quick to have their say.

Wilson will take up the role on 1 January, but joins F&C's board as an executive director with immediate effect.

The move will see Edward Bramson revert to non-executive chair, a position he will assume once the asset manager has reported its preliminary results for this year.

Wilson has 24 years' experience in the fund management sector and joins F&C at a time when it is undergoing and rolling out a major overhaul of its offering.

This year has seen two turnaround phases unveiled to investors, the most recent of which involved a direct to consumer push and a drive to launch more products for retail clients.

Wilson, who is currently responsible for F&C's investment and distribution activities, has during his time at F&C held a number of senior positions.

Prior to F&C he served as head of international equities at Gartmore, and this morning news of his appointment was welcomed by analysts.

However, looking forward, JP Morgan Cazenove, the investment bank, said that while the change appears positive much of F&C's turnaround hinges on keeping important clients at the firm.

'We believe the company’s cost savings targets are largely in market estimates, and the key variable therefore becomes the retention or otherwise of key clients,' the bank said. 

Announcing the appointment to investors, Bramson (pictured) said Wilson had already proved his worth at F&C, most recently in developing its strategy over the last year.

'Richard has played a critical role. I look forward to us working together and continuing to build value for all our stakeholders,' Bramson said.

Wilson added: 'I have enjoyed working closely with Edward in the formulation of our strategy over the last year. With a foundation of a much improved financial position for the group, I am excited to be given the opportunity to lead F&C and implement our growth strategy to the benefit of our clients, employees and shareholders.'

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 Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter