Equity Trustees chief investment officer George Boubouras will leave the business and be replaced by its current head of equities Paul Kasian in an acting capacity following an internal strategic review of the group's operations asset management functions.
Equity Trustees managing director Robin Burns said the review would move the focus of the business from attracting new mandates to developing internally sourced funds resulting in the departure of Boubouras.
"George joined Equity Trustees in order to help us further build and develop our asset management business, with a particular focus on attracting new mandates. However, the growth in other areas of the business over the same period has meant that we have now decided to refocus on internally sourced funds," Burns said
"In discussions with George on the strategy for our asset management team and his role, it became apparent to both of us that his experience, skills and ambitions would not be fully utilised under this new strategy."
Burns stated that Boubouras had achieved the goals set for him when he joined Equity Trustees 18 months ago but the group "was now pursuing a different focus and approach to the one envisaged at that time".
