F&C Asset Management has said that Edward Bramson will step down as its chairman with immediate effect.
Bramson will be replaced by Kieran Poynter, who joined the company’s board as an independent non-executive director in June 2009.
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Poynter was formerly chairman of the audit & compliance committee and a member of the nomination, remuneration and risk committees.
Other changes in the company include Keith Percy, who has been appointed to the audit & compliance committee and both Percy and Keith Jones to the nomination committee.
Bramson initially served as F&C’s executive chairman before transferring the role to Richard Wilson earlier in 2013.
He led a boardroom coup at F&C in 2011 through his hedge fund Sherborne Investors, which recently unveiled plans to divest its stake in the asset management firm.
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By GlobalDataUK-based F&C Asset Management has £95.2 billion assets under management as of 31 December 2012.
