Andrew Formica was named CEO at Jupiter Fund Management, effective March 1.
Mr. Formica will replace Maarten Slendebroek, who will step down from the position and as a director of the company effective March 1. He will remain with the firm until May 1 to ensure a smooth leadership transition and handover, a news release said Tuesday.
Mr. Formica's appointment as CEO and a director of the board is subject to regulatory approvals.
Jupiter's board had envisaged any transition to a new CEO would most likely occur over the next couple of years. However, in developing its succession plans, Mr. Formica was identified as a potential successor. "In light of his availability at this point in time, (the board) has decided ... to accelerate these plans," the release said.
Jupiter has £42.7 billion ($55 billion) in assets under management.
Mr. Formica was co-CEO of Janus Henderson Group, following a merger between Henderson Group and Janus Capital, until last year. Richard Weil was named sole CEO of the combined company in July.
A spokeswoman for Jupiter could not immediately be reached for comment.