Article last updated 22 July 2025.
Rathbone Unit Trust Management (“RUTM”) announces the appointment of Tom Carroll as chief investment officer, subject to regulatory approval. He will be based in the London office and will report to Mike Webb, RUTM chief executive.
Tom will formally take over Julian Chillingworth’s role with Rathbones’ funds business upon Julian’s retirement during 2022, which was announced earlier this year.
Prior to this, Tom was head of asset management at Sanlam Investments (formerly Four Capital Partners), which he co-founded in 2006. He has also worked as head of investment and risk at the firm. Before this he had responsibility for managing over £2 billion in assets across corporate and local authority pensions schemes as part of Schroders’ specialist UK equity team. For six years, he was a UK equities fund manager for M&G Investments, where he was instrumental in establishing its institutional investment offering. Tom began his career as a chartered accountant at Coopers & Lybrand (now PricewaterhouseCoopers).
In his new role, Tom will be responsible for overseeing the investment team and supporting the development of the funds business. This will include maintaining clear investment philosophies and processes across all funds. RUTM’s investment risk team will also report to Tom. In addition, he will support the continued development of RUTM’s sustainability capabilities and work with other teams across Rathbones Group.
Tom will also work closely with Elizabeth Savage and Edward Smith, co-CIOs of Rathbone Investment Management, ensuring close collaboration with their research teams.
Mike Webb, chief executive of Rathbone Unit Trust Management, said:
“We’re very pleased to have found someone of Tom’s experience and stature to join our team. The CIO role is vital to our activities in the fund management business, providing a framework of oversight and governance which gives our fund managers the freedom to express their investment views, while also ensuring the integrity of their individual investment processes. Tom is an outstanding cultural fit for RUTM, but also has deep knowledge of the investment universe and significant expertise in the overall business of asset management. We look forward to welcoming him to the team.
“On behalf of RUTM, I would also like to take this opportunity to thank Julian Chillingworth for his many years of unstinting service to our business, our clients and our staff, and his huge role in the success we have seen over past years. Julian has been a sage and supportive council for me personally, and our fund management team and he will be greatly missed.”
Tom Carroll said: “I am thrilled to join a business with the reputation for excellence that Rathbone Unit Trust Management enjoys. The quality of the investment and management teams and the strength of the support framework put the business in a uniquely strong position for the future and I am excited to be a part of that.”
Ends
For further information, please contact:
Madhu Kalia, Rathbones
020 7399 0256
Madhu.Kalia@rathbones.com
Sam Emery, Quill PR
020 7466 5056
sam@quillpr.com
Notes to editors:
About Rathbone Unit Trust Management:
Rathbone Unit Trust Management Limited is a wholly-owned, London-based subsidiary of Rathbones Group Plc. In 1995 and 1996 respectively, Rathbones acquired stockbrokers Laurence Keen and Neilson Cobbold, securing many private wealth managers, and their clients. The company also acquired unit trusts from Laurence Keen Unit Trust Management including the Rathbone Income Fund - the success of which led to a rebranding of the operation in 1999 to Rathbone Unit Trust Management Limited. Through its subsidiaries, the parent company manages £60.9 billion of client funds, of which £12.1 billion is managed by Rathbone Unit Trust Management Limited. (As at 30 September 2021).
