Rathbone Unit Trust Management makes new Executive Chair and Chief Executive appointments as Mike Webb announces retirement
Rathbones Group Plc announces the appointments within Rathbones Unit Trust Management Limited (RUTM) of Jayne Rogers as Executive Chair and Tom Carroll as Chief Executive. Jayne will also take on the role of Chief Distribution Officer, Rathbones Group Plc. This is subject to FCA approval. Both Jayne and Tom will be based in the London office.
Mike Webb, current Chief Executive of RUTM and Head of Financial Adviser Distribution for the Rathbones Group Plc, is to retire at the end of 2023, allowing time for a formal hand-over and integration of the new roles.
Mike retires after almost 14 years as Chief Executive of RUTM. He joined the business in February 2010, in which time funds under management have grown from just over £1bn to £12.2bn (as at 30 June 2023).
Jayne Rogers will assume the newly created roles of executive chair of RUTM and chief distribution officer of Rathbones Group. Jayne will work closely with Tom Carroll to establish RUTM’s strategy and set its growth ambitions, as well as developing and delivering a distribution strategy for the group that promotes greater focus and collaboration. She joins after four years at Morgan Stanley Investment Management (MSIM), where she was latterly EMEA Head of Strategic Initiatives. At MSIM she had oversight of strategy, regulation and governance. She chaired the Regulatory Committee and co-chaired the Operating Committee. She also led the integration of strategic mergers and acquisitions. Prior to this Jayne was Head of Institutional Business, Hong Kong and ASEAN for Robeco Asset Management where she built its institutional distribution across the region. She has also worked for KPMG Investment Advisory, as Head of Fund Manager Research, Mercer Investment Consulting, The Wellcome Trust and Adam & Company.
Tom Carroll will take over the role of Chief Executive Officer and will work with Jayne on developing the strategy for RUTM, as well as being responsible for the oversight of the fund management teams, and the day-to-day management and operations of RUTM.
Tom joined Rathbones in March 2022 when he was appointed Chief Investment Officer of the funds business. Prior to that he 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 company. Before this he had responsibility for managing over £2 billion in assets across corporate and local authority pension schemes as part of Schroders’ specialist UK equity team. His other roles have included helping to establish M&G Investments’ institutional offering and working as a UK equities fund manager for the company.
Tom began his career as a chartered accountant at Coopers & Lybrand (now PWC).
Paul Stockton, Chief Executive, Rathbones Group, said: “I’m very excited to welcome Jayne and Tom as they take on their new roles. Over the years, RUTM has seen significant expansion, not just in assets under management, but also people and infrastructure. This growth now requires focused roles at the senior leadership level, with Tom ensuring the consistent excellence that RUTM is known for, and Jayne driving what we know is going to be an exciting period of strategic growth for the funds and intermediary business.
“On a personal note, I wish to thank Mike for his outstanding leadership of the funds business and immense contribution to the wider group. We’ve seen RUTM grow into a trusted and respected fund management house, enjoying strong and growing relationships with financial advisers across the UK and internationally. His legacy will remain the foundation of the business. I know I speak for the whole of Rathbones as I wish him all the very best for a well-earned retirement at the end of this year.”
Mike Webb, Chief Executive, Rathbone Unit Trust Management, said: “I leave Rathbones’ funds business and financial advice distribution business in the most capable hands with Jayne and Tom, who will continue to develop the strengths of Rathbones, providing a first-class service to our adviser clients. I’m enormously privileged to have worked at this remarkable company and am proud of the fantastic team of people who have made the past fourteen years so fulfilling. I wish Rathbones well for what I know will be a very bright future.”
Following regulatory approval, Jayne will take over from Rathbones Group’s Chief Executive Paul Stockton as chair of the RUTM board. RUTM Chief Operating Officer Emma Renals has also been appointed to the RUTM Board and will support Tom and Jayne in the continued management of the business’s day-to-day operations.
For further information, please contact:
Sam Emery/Emma Murphy, Quill PR
020 7466 5050
Rathbones Group Plc (Rathbones), through its subsidiaries, is one of the UK’s leading providers of investment management services for individuals, charities and professional advisers. This includes discretionary investment management, unit trusts, tax planning, trust and company management, financial advice and banking services. Rathbones manages £60.5 billion of assets (as at 30 June 2023). This includes £12.2 billion managed by Rathbone Unit Trust Management. Rathbones has over 2,100 people in 15 UK locations and Jersey.