Pomfret set to leave Rathbones in February 2014

Rathbone Brothers chief executive Andy Pomfret is set to depart on February 28 2014 after 14 years with the firm.

The current deputy chief executive Philip Howell will take over as chief executive on Mr Pomfret’s departure, and has been appointed to the board with immediate effect.

Mr Howell joined Rathbones in March this year, having previously been chief executive of Williams de Broe.

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Mr Pomfret had joined Rathbones in 1999, initially as finance director before being promoted to chief executive in 2004, and he has grown the firm’s funds under management from £7.7bn at the end of 2004 to £20.8bn as of September 30 2013.

Mr Pomfret said he had recruited Mr Howell as his successor earlier in the year and said “it’s now time to use my experience as both a chief executive and a non-executive director to develop a plural career”.