Hermes IM names new chairman

Hermes Investment Management has announced the appointment of David Stewart as the new chairman of the board, replacing Paul Spencer.

Spencer has been chairman since 2011, while Stewart’s appointment will be effective from April 2016.

Stewart is currently a non-executive director of Hermes Investment Management since joining the board in April 2015.

He previously spent nine years at Odey Asset Management, initially as Chief Executive and latterly as a non-executive director.

He is chairman of IMM Associates, a non-executive director of the Caledonia Investment Trust, and sits on the Investment Committee of MacMillan Cancer Care.

Saker Nusseibeh, Chief Executive, Hermes Investment Management, says: “Since joining the Board as Chair of the Risk and Compliance Committee, David has quickly established himself as an insightful and trusted advisor. His advice and counsel will be greatly beneficial as we take Hermes through the next stage of its growth.”

David Stewart, chairman elect, Hermes Investment Management, says: “I look forward to taking up my new role, and working with Saker, the leadership team at Hermes and my fellow Board members to build on the successes Hermes has already achieved.

“I see Hermes as an asset manager which is fully embedding responsible capitalism at the very heart of its business. This gives the firm a unique advantage, for which it is increasingly being recognised. ”

Paul Spencer, CBE, was appointed chairman of Hermes in May 2011 and is also Chairman of the Trustee of BT Pension Scheme (BTPS), a role he will continue to fulfil. He has also been appointed Independent Non-Executive Chairman of the Prudential Assurance Company (PAC), the UK subsidiary of Prudential plc, effective 1 January 2016.


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