Rathbones Group PLC - London-based investment and wealth manager - Hires Jonathan Sorrell to be its new chief executive officer, joining the company on July 1 from Capstone Investment Advisors, a derivatives investment management firm where he has been president since the start of 2020. Sorrell previously was chief financial officer, and later president, of active investment manager Man Group PLC. At Rathbones, Sorrell will replace Paul Stockton, who will retire on September 30 after 16 years with Rathbones and six as CEO. Rathbones says Stockton wants to retire upon turning 60 in the second half of the year. It notes that Stockton oversaw the merger of Rathbones with Investec Wealth & Investment Ltd, the UK arm of Investec PLC. The all-share combination was completed in September last year, and Investec now owns around 41% of Rathbones as a result.

Current stock price: 1,642.00 pence

12-month change: up 9.3%

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