Rogers and Carroll will be located in the London office.

Also, Rogers will also become Rathbones Group Plc’s chief distribution officer.

FCA approval is pending on this.

Mike Webb, the current Rathbones Group Plc head of financial adviser distribution and chief executive of RUTM, will step down at the end of 2023 to allow for a formal hand-off and the merging of the new responsibilities.

After almost 14 years as chief executive of RUTM, Webb retires.

Since his entry into the company in February 2010, funds under management have increased from just over £1bn to £12.2bn (as of 30 June 2023).

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The newly formed positions of executive chair of RUTM and chief distribution officer of Rathbones Group will be filled by Rogers.

In addition to designing and implementing a distribution strategy for the group that encourages better concentration and teamwork, Rogers will work closely with Carroll to outline RUTM’s strategy and set its growth aspirations.

She joins after spending the previous four years at Morgan Stanley Investment Management (MSIM), where she most recently served as EMEA Head of Strategic Initiatives.

Rogers was in charge of managing strategy, rules, and governance at MSIM.

She served as co-chair of the operating committee and as chair of the regulatory committee.

Furthermore, she supervised the strategic mergers and acquisitions integration.

Rogers last position was as head of institutional business for Robeco Asset Management in Hong Kong and ASEAN, where she developed the company’s institutional distribution.

She has also held positions with Mercer Investment Consulting, The Wellcome Trust, Adam & Company, KPMG Investment Advisory, and KPMG Investment Advisory as head of fund manager research.

Carroll will assume the position of chief executive officer and will also be in charge of managing RUTM’s daily operations and managing the fund management teams.

He started his career with Coopers & Lybrand (now PWC) as a chartered accountant.

Carroll joined Rathbones in March 2022 when he was hired chief investment officer of the funds business.

He co-founded Sanlam Investments in 2006, which was previously known as Four Capital Partners, and served as its head of asset management before that.

Moreover, he served as the business’s head of risk and investment.

Prior to that, Carroll managed more than £2bn in assets for corporate and local government pension plans as a member of Schroders‘ specialised UK equity team.

His additional responsibilities have included working as a UK equities fund manager for M&G Investments and contributing to the development of the company’s institutional product.

Paul Stockton, chief executive, Rathbones Group, said: “I’m very excited to welcome Jayne and Tom as they take on their new roles. Over the years, RUTM has seen significant expansion, not just in assets under management, but also people and infrastructure. This growth now requires focused roles at the senior leadership level, with Tom ensuring the consistent excellence that RUTM is known for, and Jayne driving what we know is going to be an exciting period of strategic growth for the funds and intermediary business.’’