Helena Morrissey is stepping down as chief executive officer of Newton Investment Management after 15 years in the role.
Ms Morrissey will become non-executive chair of Newton’s board of directors, where she will continue to serve as an adviser and representative to the investment management firm and its parent company BNY Mellon.
Hanneke Smits is to succeed Ms Morrissey. Ms Smits was most recently chief investment officer for Adams Street Partners, a US private equity firm. Ms Smits left in 2014 to pursue other opportunities.
Mitchell Harris, chief executive of BNY Mellon, said: “We are extremely thankful to Helena for her many contributions during her tenure as chief executive, and I am pleased that she will continue to serve Newton as non-executive chair.
“Under Helena’s leadership, Newton has developed into a globally recognised asset manager and valuable BNY Mellon investment boutique, with strong investment performance across real return, fixed income, multi-asset, global and equity income strategies, along with a market-leading responsible investment proposition, all driven by the firm’s team-based investment approach.”
Ms Morrissey said: “The time is now right for me to move on to the next phase of my career and for a new chief executive at Newton to drive its ongoing growth.
“I am looking forward to assisting Hanneke over the coming months while also continuing my roles with the Investment Association and the Financial Services Trade and Investment Board, among others.”