River and Mercantile, the listed asset management group, has promoted deputy chief executive James Barham to the top role at the firm.
Mr Barham replaces Mike Faulkner, the outgoing chief executive, who will remain at the firm as head of macro strategies and innovation.
Mr Barham has been deputy chief executive of River and Mercantile PLC for 10 months, and an employee of the firm since 2006.
Prior to that he worked in marketing roles at Intermediate Capital and Liontrust.
A River and Mercantile statement described the move as being part of normal succession planning.
In its most recent update to the market, covering the first three months of 2019, the company reported a 6 per cent rise in assets under management to £36.3bn.
Mr Faulkner said: "The group has made significant progress over the last five years in the development of its service offerings.
"Within this, I believe strongly that the opportunities our macro strategies represent for our business to grow will require me to be solely focused on developing and managing these along with new investment strategies to meet our clients’ investment needs.
"James and I have worked together for many years growing the business to the successful franchise it is today, and I know he is best placed to take on the role of group CEO from me.
"We will continue to work closely together in growing the business as we have always done."