Cazenove Capital announces that Tim Russell is to step down from his role as head of pan-European equities. After 26 years commitment to the investment industry Russell is taking a career break and will leave the business in July, after a smooth handover over of his responsibilities.

Steve Cordell, a senior member of the pan-European equity team and co-manager of the Cazenove European Equity Absolute Return Fund, will assume responsibility for the Cazenove UK Absolute Target Fund (UCITS fund) and the UK core offshore hedge funds, supported by Julie Dean. Both managers have been involved with the management of Cazenove Capital’s long/short products since 2003. Chris Rice will take over as head of pan-European equities at Cazenove Capital.

Andrew Ross, Chief Executive Officer, Cazenove Capital comments ‘During the last decade Cazenove Capital has established itself as one of London’s leading specialist asset managers and Tim Russell has been integral to that success. He leaves behind him an extremely strong pan-European equity team headed by Chris Rice. Steve Cordell has extensive long/short experience which will be invaluable as he takes the reigns on our UK core absolute products.’

Russell comments ‘I have thoroughly enjoyed my time at Cazenove Capital and would like to wish all my colleagues well in the future and most importantly thank clients for their support over the years. I am fortunate to leave a strong team to take up the baton and am confident that Steve and Julie will continue to deliver consistent returns for clients. I shall remain a significant investor in several of the funds.’