James Barham was named of CEO of River and Mercantile Group effective July 1, a spokeswoman said.
Mr. Barham will replace Mike Faulkner. Mr. Faulkner will remain at the firm and was appointed head of macro strategies and innovation. He will focus on the development of macro strategies.
"This appointment reflects a continuation of the business logic that both (Messrs. Barham and Faulkner) shared leading to the original formation of the group in 2014," said Jonathan Dawson, group chairman, in a news release.
Mr. Barham was deputy CEO. Details about his replacement could not be learned.
River and Mercantile had more than £36 billion ($46.9 billion) in assets under management as of March 31.