BusinessCorporate FinanceFinance chief departs troubled F&C

Finance chief departs troubled F&C

Search begins for new FD as management reshuffle continues

A management reshuffle at F&C Asset Management has gathered pace, with
the announcement that the group’s chief financial officer is to leave.

Ian Paterson Brown will go in May it was announced yesterday. He will follow
chief investment officer, Tony Broccardo, who departed last month.

The company’s former head of alternative assets business, Fernando Ribeiro,
replaced Broccardo and took on a new role as head of investments.

The search for a replacement for Paterson Brown now begins, as the company’s
new chief executive, Alain Grisay, aims to streamline the group.

It has been a difficult year for the group as its shares have underperformed
other comparable companies by nearly 40 per cent, the Financial Times
reports.

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