Artemis co-founder and senior partner Mark Tyndall is step back from the business and move into a non-executive as part of a boardroom reshuffle that will see John Dodd take over as chairman at the end of the year.
Mark Murray, who joined the company in 1997 and has been chief operating officer since 2001, will become senior partner.
Tyndall (pictured) said he will retain a substantial stake in both the company and the funds it manages, while Dodd will continue to run the Artemis Alpha trust and the Global Energy fund. He will replace existing chairman Hamish Grossart who will remain with the company as a non-executive director.
‘We founded this business with an investment-led culture, and have always valued stability of personnel and consistency of purpose as a key part of this,’ Tyndall said. ‘I know that, with John and Mark leading the way, Artemis will continue to hold to these principles.’
He was one of the quartet that set up the business in 1997, along with Dodd, Derek Stuart and Lindsay Whitelaw. It was later acquired by Fortis Bank in 2008 with the management buying out the business in 2010 with the support of Affiliated Managers Group and now has amassed £21.6 billion in assets under management.
‘In 1997 we started out as a team of four founder fund managers. Today the firm’s investment management resources extend to 27 fund managers and eight analysts, and responsibility for the day-to-day running of the business rests with an eight-strong executive committee,’ Tyndall said.
‘Although moving to a non-executive capacity, I will remain a partner, and will retain a substantial stake in both the partnership and the funds that Artemis manages.
‘Our continuing challenge is to keep doing everything we can to deserve our clients’ support over the years to come. I have every confidence that we will do so.’
Tilney Bestinvest managing director Jason Hollands said: ‘Artemis has been an incredible success story and Mark Tyndall, who founded the business in 1997 with fellow ex-Ivory & Sime funds mangers John Dodd, Derek Stuart and Lindsay, rightly deserves a very large chunk of the credit.’