Bob Yerbury is set to step down as chief executive of Invesco Perpetual in September as the first step in his eventual retirement from the firm.
Yerbury, who keeps all his fund management responsibilities and his role as chief investment officer, will hand the reins to senior managing director James Robertson.
In a letter to financial advisers, Invesco Perpetual says Yerbury will not be retiring from the company for several years and maintains that, despite today’s announcement, it is very much “business as usual” for the team.
“Succession planning in anticipation of change is something that we focus on very carefully and this is part of a thoughtful long term strategy in light of Bob's eventual retirement over the next few years,” it reads.
Yerbury manages a range of international funds, including the £1.36bn International Equity fund, the £245.9m World Growth portfolio and the £217.4m World Income fund.
James Robertson joined Invesco Perpetual UK in 1993 and has spent a total of 25 years in the investment management industry.
Starting as an investment analyst, he has held a wide range of responsibilities in the UK and Europe, the Far East and the US.
He has also been a member of the executive management committee since 1999 and a member of the board of directors since 2004. He was chief financial officer from April 2004 to October 2005.
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