Ian Barnes was named CEO at Veritas Asset Management, said a spokesman.
The position is new, and Mr. Barnes starts early next year.
Veritas, which manages about £12 billion ($15.6 billion) in assets invested across global and Asia equity strategies, has a partnership structure and managing partners board. Mr. Barnes will join the board that consists of existing partners Charles Richardson, fund manager and chairman; Andy Headley, fund manager and head of global; Ezra Sun, fund manager and head of Asia; and Richard Grant, chief operating officer.
Mr. Barnes will be responsible for the day-to-day management of the business and implementing key objectives set by the managing partners board.
“(Mr. Barnes') appointment will ensure that key investors remain focused on investing for our clients, while providing the leadership to fulfill the long-term objectives for our firm — investment excellence, client service, retention of high-caliber people and measured organic growth,” said Mr. Richardson in a statement provided by the spokesman.
Mr. Barnes is head of UBS Asset Management for the U.K. and Ireland. A UBS spokesman said a replacement will be announced shortly.
