Polar Capital chief executive resigns
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Polar Capital chief executive Mark Kary has resigned from the firm after four years.
Kary has stepped down as chief executive with immediate effect but will remain at the company until December 31, 2009, to ensure an orderly transfer of his responsibilities. He is leaving to pursue other opportunities.
Executive director Tim Woolley will take on the role of chief executive. Woolley founded Polar Capital with Brian Ashford-Russell in 2001. Woolley previously worked at Prolific before joining Henderson in 1996, where he launched the horizon fund that focussed on small and mid-cap companies.
Polar Capital currently has £1.16bn of assets under management. In addition to its technology franchise, the group also has UK, Europe, healthcare, global macro and Japan investment teams.
Polar Capital chairman Tom Bartlam says: “Tim is exceptionally well placed to undertake the role; since establishing the company in 2001 he has been actively involved in the successful management of the business and has a great track record in the industry. Now that he has relinquished all his fund management responsibilities he is ideally suited to take on this role.”
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