Alain Grisay will retire as CEO of F&C Asset Management in May, the company announced Thursday.
Edward Bramson, an activist investor who took control of F&C’s board in February, became executive chairman Thursday, and will take over for Mr. Grisay.
Mr. Bramson, who is also partner and portfolio manager at private equity firm Sherborne Investors, has already taken responsibility for F&C’s strategic decisions, while Mr. Grisay will continue to oversee daily operations until his retirement.
F&C’s board, led by Mr. Bramson, began a strategy review in February. Results of that review will be announced Oct. 25, spokesman Jason Hollands said.
“We look forward to completing and implementing the strategy review and driving the business forward,” Mr. Bramson said in a news release Thursday.
F&C managed £108 billion ($167 billion) as of June 30.
