Artemis co-founder Mark Tyndall is stepping aside as senior partner to take a non-executive role on 31 December 2015.
Tyndall will remain a partner at the investment manager and retain “a substantial stake” in both the partnership and the funds that Artemis manages.
Tyndall founded the business in 1997 with fellow ex-Ivory & Sime funds managers John Dodd, Derek Stuart and Lindsay Whitelaw.
Mark Murray, who joined Artemis in 1997 and who has been chief operating officer since 2001, will become senior partner.
John Dodd will become the group’s chairman, replacing Hamish Grossart who has been chairman since Artemis was founded. Grossart will remain at the company as a non-executive.
In a note to clients Tyndall says: “Five years ago, with the support of Affiliated Managers Group, we bought the business back and turned ourselves into an independent limited liability partnership.
“We chose the partnership structure because we felt that this would both ensure long-term stability for clients, and would create the required flexibility when it came to organising an orderly transition over time between generations. Over the last five years we have ensured that we have appropriate succession plans for all the key roles in the firm.”
At the end of April 2014, Artemis had approximately £18.1bn in assets spread across a range of funds, two investment trusts, a hedge fund, a venture capital trust and both pooled and segregated institutional portfolios.
