Merian Global Investors's Richard Buxton is stepping down as CEO but will remain as head of UK equities and manager of the Merian UK Alpha fund.
Following the completion of the management buyout last June and the subsequent rebranding of the group, Buxton said it was "the right time to hand over the reins". Although he is stepping down as an executive, he will remain on the board as a major shareholder.
Buxton will be replaced by Mark Gregory, currently a non-executive director of Merian and previously chief financial officer at Legal & General. He is also a non-executive director at Direct Line Insurance Group and started his career in 1984 at PricewaterhouseCoopers.
“I’m delighted that Mark Gregory has accepted the position of CEO. He is hugely experienced and enthusiastic about the future of the business and I have every confidence that Merian Global Investors will continue to excel under his guidance.”
Supported by the executive committee, board and shareholders, Mark will be responsible for driving the growth of Merian Global Investors, ensuring it remains focused on delivering positive client outcomes and excellent service. Mark will continue to sit on the firm's board.
Richard Buxton said: "My passion for investment is as strong as ever and I think there are some great opportunities in UK equities today. I will continue to seek undervalued and attractive businesses, while actively working with firms to improve corporate governance. I look forward to delivering long-term returns for our clients for many years to come."
Sarah Bates, chair of the board, added: "Working with Richard has been a real pleasure; his passion and energy for the business is truly commendable and he has been instrumental in building Merian Global Investors into a market-leading asset management business. While we will miss his leadership, I look forward to his continued contribution to the company.
"I'm delighted that Mark Gregory has accepted the position of CEO. He is hugely experienced and enthusiastic about the future of the business and I have every confidence that Merian Global Investors will continue to excel under his guidance."