New CEO chosen at F&C Asset Management

Richard Wilson was named CEO of F&C Asset Management, effective Jan. 1, the company announced Tuesday.

Alain Grisay had been CEO; he announced in October 2011 that he would retire in May 2012. Edward Bramson, executive chairman, who took over CEO duties on an interim basis in October 2011, will step back and become non-executive chairman of the board.

Mr. Wilson is head of investments and head of institutional business at F&C. He won't be directly replaced as F&C restructures its management, said spokeswoman Tracy Fennell.

Richard Watts and Steve Ilott are now co-heads of investments, Mandy Mannix is head of client management, Martin Smith is head of product management, and Marrack Tonkin is head of investment trusts and company secretary.