Crux Asset Management has appointed former Lehman Brothers deputy chair Lord Howard of Penrith as chairman.
Before joining Crux, Philip Howard was a non-executive director of Schroders for 10 years and also served as chief investment officer of Beazley, the Lloyds Insurer, from 2013 to 2015.
Howard (pictured) also managed the fixed income business at Lehman Brothers’ European division until 1997, served as chairman of Tarchon Capital Management from 1999 to 2012, and was the partner in charge of international fixed income at Phillips & Drew.
He replaces Charles Ferguson in the role, who steps down to become a non-executive director for Crux, which was established by star fund manager Richard Pease four years ago.
Howard started his career as a journalist at the Daily Mail before moving into finance with Deltec Trading Company, heading up its euro bond trading platforms.
Commenting on the appointment, Crux CEO Alistair Reid said: ‘We are pleased to welcome Lord Howard to Crux in this important role. His experience and knowledge of our industry will be a huge support to the business as we continue to grow.
‘I would also like to thank Charles Ferguson for his outstanding contribution as we established Crux Asset Management and we are delighted that he will remain part of our company as a non-executive director.’