Lansdowne Co-Founder Ruddock To Retire

Mar 5 2013 | 11:21am ET

Lansdowne Partners co-founder and CEO Paul Ruddock will step down from the hedge fund he set up 15 years ago this summer.

Ruddock will retire at the end of June, he said yesterday. The 54-year-old millionaire, who was knighted last year for his contributions to the arts, will focus on his the arts and philanthropy.

"The firm is at a very good place," Ruddock told Bloomberg News. "The amount of assets are stable and we've had very little turnover in staff. Clearly, if I didn't feel that, I wouldn't be stepping down."

Lansdowne said it would begin searching for a successor to Ruddock as CEO. It added that Ruddock's departure would not affect the management of the firm's funds, since Ruddock handled the operational end of the US$12.4 billion hedge fund, unlike co-founder Steven Heinz, who is head of its European strategy.

Lansdowne's largest fund, Developed Markets, returned 18% last year, an impressive turnaround following its worst-ever year in 2011, when it dropped 20%. That fund is managed by Merrill Lynch veterans Stuart Roden and Peter Davies, and is up 7.5% this year.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...