Former F&C chief executive Grisay dies

Alain Grisay, former chief executive of F&C Asset Management and stalwart of the financial industry, has died.

Mr Grisay worked at F&C for 11 years, including six years as chief executive, during which time he led the group to list on the stockmarket for the first time.

He stepped down as chief executive a few months after activist investor Edward Bramson was appointed executive chairman, and retired soon after.

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At the time of his death Mr Grisay was a non-executive director at electrical retailer Darty Group.

In a statement this morning Alan Parker, Darty chairman, said: “The whole board are very saddened to hear this news and all our thoughts are with his family.”

F&C said in a statement: “We were very sorry to hear the sad news that Alain Grisay has passed away.

“Alain was a visionary executive and business leader. Alain will be sadly missed by all of us who had the privilege of both knowing him and of working together. Our sympathies are with Alain’s family.”

As well as his 11 years at F&C, Belgian-born Mr Grisay worked for 20 years in the investment banking division of JPMorgan, latterly in charge of the fixed income desk.

Mr Grisay spoke to Investment Adviser in 2009 about F&C’s listing, navigating Friends Provident selling its stake in the business and his interest in vintage cars.