CEO of Kames Capital Martin Davis is to step down after six years with the firm, Investment Week has learned.
The firm's CIO Stephen Jones will take up Davis' (pictured) UK duties on an interim basis, but a replacement will not be selected until global CEO of Aegon Asset Management - Kames' parent company - Bas NieuweWeme releases his plans for the group, which he is expected to do very soon.
NieuweWeme, who will take up Davis' European duties, only recently joined the firm and has been in consultation to develop his strategy going forward.
Davis joined Kames from his role as CEO of Cofunds in 2013, since which time he has brought the firm's European operations under a single management.
In a note to investors, seen by Professional Adviser's sister title Investment Week, the firm said Davis "is not stepping down to join another firm", adding NieuweWeme "is shortly releasing his plan for the whole group as he has been taking feedback from us all".
It added: "Until then we are not looking for a replacement."
In an official statement, Kames confirmed Jones had been appointed as interim chief executive "following the departure of Martin Davis from the business by mutual agreement".
It added: "Jones, who joined the business in 2002, is currently chief investment officer for Aegon Asset Management (AAM) Europe and Kames Capital, and he will take on the interim CEO responsibilities while continuing with his current role.
"Prior to becoming the CIO at Kames in 2013, Jones was joint head of fixed income. Bas NieuweWeme AAM's global CEO will take over Davis' responsibilities as head of AAM Europe also on an interim basis.
"We would like to thank Martin for his contribution to the business during the last six years and wish him every success with his future career."
To offer equity and multi asset funds
Square Mile's series of informal interviews
Follows active fee cuts in June
New shares admitted to London Stock Exchange