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.

Smith confirms Tullett Prebon departure as Fundsmith hits £2bn

Smith confirms Tullett Prebon departure as Fundsmith hits £2bn

Terry Smith is to step down as Tullett Prebon CEO to focus on Fundsmith, which has now reached the £2 billion in assets under management milestone.

Smith (pictured) has headed Tullett Prebon for eight years following its spin out from Collins Stewart.

Fundsmith confirmed Smith’s intention to quit his City role at the broker and pointed to the timing of the news with Fundsmith going from strength to strength.

The group said that since launch in 2010, the group’s global mandate, Fundsmith Equity has returned 70.7% compared to a sector average of 38%, ranking it 4/217 in the IMA’s Global sector.

The boutique is also looking to raise a further £250 million for the Fundsmith Emerging Equity Trust.

According to the Financial Times, Tullett Prebon is in advanced talks with John Phizackerley, a former Nomura and Lehman Brothers executive, to lead the group.

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 Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter