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Charlie Porter to leave F&C

Charlie Porter

Charlie Porter is set to stand down as F&C’s head of funds and investment trusts.

Charlie Porter is to step back from his role at the asset manager with immediate effect, Fundweb understands.

Porter is F&C Asset Management’s head of funds and investment trusts and also sits on its executive committee. He joined F&C in 2010 when the firm bought Thames River Capital, of which he is the chief executive and a co-founder

The company declined to offer any comment.

F&C completed a strategic review in May this year, in which it outlined plans to grow its investment trust business to capitalise on RDR and look at introducing a directly-marketed multi-manager and multi-asset range for distribution through its existing direct-to-consumer infrastructure.

As part of the review, the company also plans to cut its costs by £33.2m by 2013.

Earlier in his career, Porter was sales director at Baring Asset Management where he held responsibility for the firm’s UK mutual fund business.

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