Threadneedle Investments executive chairman Simon Davies (pictured) will retire from the company in June 2012.
Threadneedle will continue to be led by chief executive officer Crispin Henderson, reporting to Jim Cracchiolo, chief executive officer and chairman of Ameriprise Financial, Threadneedle’s parent company.
Davies has led the company’s transformation from a small UK manager of in-house insurance assets to a leading international asset manager.
He joined Threadneedle as chief investment officer in 1995, a year after the firm was formed through the merger of the investment operations of UK insurers Allied Dunbar and Eagle Star. In 1999 he was ap chief executive officer, a role he held for eight years before taking up the chairman post in 2007 where he focused on strategy, customers and talent management.
Under Davies leadership Threadneedle has seen assets under management from £22 billion to £68.8 billion with the firm managing mandates for individuals, pension funds, insurers and corporations around the world.
This will increase by approximately £8 billion when the recently announced transfer of the assets and external funds of LV= completes early next month.
Davies has also helped attract some top fund managers to Threadneedle over the years. The firm currently has 10 Citywire rated managers; AA-rated Dan Ison, Stephen Thornber and Richard Colwell, alongside A-rated David Dudding, Gigi Chan, Cormac Weldon, Alex Lyle, William Davies and Philip Dicken.
'I’m pleased to have been part of Threadneedle’s successful development over the past 16 years. Threadneedle is a world class stand-alone investment manager with a diversified client base, an outstanding investment and leadership team and a sustained excellent performance record, Davies said.
'With the support of a large and strong parent in Ameriprise Financial Threadneedle has never been in a stronger position.'
Cracchiolo added: 'Simon has had a long and distinguished career at Threadneedle and I’d like to thank him for his exceptional contribution to both Threadneedle and Ameriprise Financial.
'In addition, we appreciate his good work to orchestrate a smooth transition of leadership, which began when Crispin Henderson became CEO in 2007. I feel very good about the depth of talent as well as the strength and continuity of the leadership team that Simon helped build at Threadneedle.'