River and Mercantile, an asset management firm headquartered in the UK, has promoted its deputy CEO James Barham to the role of CEO.

Barham will assume the new role on 1 July 2019.

He headed River and Mercantile Asset Management as its CEO since its inception in 2006.

He remained in the role until the merger of the business with P-Solve in 2014.

Barham has been working as the deputy CEO since last year.

Previously, Barham supported the establishment and flotation of Liontrust Asset Management.

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He also had a stint at Intermediate Capital Group early in his career.

River and Mercantile group chairman Jonathan Dawson said: “I am delighted that James has accepted the position as CEO which will provide Mike the time to focus on driving forward our investment thinking for the benefit of our clients and to support the future growth of River and Mercantile.

“This appointment reflects a continuation of the business logic that both Mike and James shared leading to the original formation of the Group in 2014.”

Barham replaces Mike Faulkner, who will remain with the business as the head of macro strategies and innovation.

Faulkner noted: “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.”