LONDON - Former Jupiter chief executive Edward Bonham Carter is stepping down from the board to take up a new role focusing on the firm’s stewardship and corporate responsibility.
Jupiter said the decision would allow Bonham Carter (pictured) greater flexibility to manage his portfolio of external appointments, while enabling the fund business to benefit from his considerable experience in responsible investing.
He will retire from the board and give up his vice chairmanship following the company’s AGM in 2021.
Bonham Carter has worked at Jupiter for 26 years, joining the company in 1994 as a UK fund manager after spells at Schroders and Electra Investment Trust.
He was appointed chief investment officer in 1999 and joint chief executive in 2000. He became sole group CEO seven years later, leading Jupiter through its management buyout that year and its subsequent IPO in June 2010. He relinquished the CEO role in March 2014.
In a statement accompanying the news, Bonham Carter said he was proud to have served on the board for many years as he looked forward to his new challenge.
‘After a transformational period for Jupiter, including a new chairman and executive team, followed by the successful acquisition of Merian Global Investors, I feel it is now a good time to step down from the board to enable me to focus on other interests,’ he said.
‘[However] I am pleased to be able to remain involved with Jupiter, working closely with the existing experienced team to provide a strong voice on a subject that understandably continues to grow in importance to our clients.’
Jupiter chair Nichola Pease added: ‘Edward has devoted over 25 years of service to Jupiter, leading the company through some of the most important milestones in its history including our IPO in 2010.
‘Among his many contributions to Jupiter, he has championed the role of responsible investing and I am delighted that we will continue to benefit from his significant expertise in this area.’
As director of stewardship and corporate responsibility, Bonham Carter will support the work of the Jupiter chief investment office, led by Stephen Pearson, and the dedicated governance and sustainability team.
He will assume the chairmanship of both Jupiter’s stewardship committee and its corporate and social responsibility committee with immediate effect. He will also continue to be actively involved in meeting with Jupiter’s investee companies, as well as contributing to the firm’s collaborative engagement and policy work.
‘At a time of major societal, political and economic change brought about by the Covid-19 pandemic, there has never been a better time to demonstrate both the financial benefit and wider value of active asset management. I very much look forward to focusing on this when I take up my new role,’ Bonham Carter added.