Ex-Caz managers Russell and Rice join forces to launch boutique

The new firm will trade under the name Sanditon Asset Management, and will launch in the second quarter of 2014, subject to FCA approval. The company is named in homage to Jane Austen, sharing the name of the writer's unfinished novel. The boutique is likely to offer four products initially - long-only and long/short UK funds managed by Russell, and long-only and long/short European funds managed by Rice.  The pair have recruited Rupert Tyer, who resigned his directorship at Cazenove in July, to serve on the board of the new company, City financier Neil Canetty-Clarke is also under...