Friday, 1 August 2014
Last updated 7 hours ago
Jun 27 2013 | 1:04pm ET
Lansdowne Partners has gone outside of the firm to find its new leader.
The US$12.4 billion hedge fund named Alex Snow its new CEO. Snow will succeed Lansdowne co-founder Paul Ruddock in September, the firm said today.
Snow is the former executive chairman of Investec's British investment-banking unit. Snow joined Investec in 2011, when it acquired the firm he co-founded, Evolution.
Lansdowne also said that head of operations Suzi Nutton would be promoted to chief operating officer.
"Alex has been known to members of the management committee for many years and has the combination of management experience, energy and drive which we believe is necessary to lead Lansdowne going forward," the committee said.
Ruddock announced his plans to retire from the 15-year-old firm in March. He is set to leave at the end of this month and plans to focus on philanthropy.
Ruddock handled the operational end of Lansdowne and was not involved in the management of its funds.