T Bailey chief investment officer Jason Britton is leaving the firm after 12 years to take a break from the finance industry.
Britton joined the fund of funds firm in 1999 and managed the £176m growth fund in addition to his CIO duties.
Former chief investment officer Richard Martin will return to day-to-day fund management as senior manager on the fund alongside Elliot Farley.
Martin stepped back from day-to-day fund management in 2008 and became a strategic adviser to the firm.
T Bailey says non-executive director Michael Hughes will play a bigger part in asset allocation decisions for the group. Hughes was formerly chief investment officer at Barings Asset Management.
Britton says: “I am enormously proud of what I have achieved at the company. T Bailey is a modern-day David and Goliath story. I helped lead the business through the combined threats of one of the biggest stockmarket declines since the Great Depression, the greatest buyers’ strike of retail funds since records began and all the uncertainties and trauma that the credit crunch brought.”
Chelsea Financial Services managing director Darius McDermott says: “This is a big surprise, as many would see Jason as T Bailey. Thankfully, Richard Martin has come back and that is a big boost for the firm.”