Alain Grisay is to step down as F&C Asset Management's CEO next year, with Edward Bramson taking over his responsibilities in the role of executive chairman.
Alain Grisay is to step down as F&C Asset Management’s CEO next year, with Edward Bramson taking over his responsibilities in the role of executive chairman.
The move comes just eight months after Bramson won his public spat with the board to become chairman of group.
Grisay (pictured), who has been at F&C for over a decade, will retire at the end of the third quarter of 2012, exiting the firm in September 2012.
F&C added there will be a gradual handover of responsibilities from Grisay to Bramson up until the group’s AGM next May.
Bramson is heading a strategic review into the business and is expected to report its findings within the next month.
“On behalf of the board I would like to thank Alain for his contribution during his years at F&C. He will leave with our best wishes for the future,” said Bramson.
“We look forward to completing and implementing the strategy review and driving the business forward.”
This article first appeared on Investment Week.