Rathbones Appoints Jonathan Sorrell as New Chief Executive
Portfolio - People | Mar 20, 2025 | EIN
Rathbones has appointed Jonathan Sorrell, former president of Capstone Investment Advisors, as its new chief executive, succeeding Paul Stockton who steps down after 16 years. Sorrell will start in July as CEO designate before assuming full responsibilities in September. Sorrell previously held senior roles at Man Group and Goldman Sachs, and is the son of Sir Martin Sorrell. Under Stockton, Rathbones significantly expanded, including the acquisition of Investec Wealth & Investment UK, growing its managed assets to over £100bn. This leadership change occurs as the UK wealth management sector faces consolidation pressures due to rising costs and competition from index-tracking funds. Sorrell's leadership is expected to leverage his experience to guide Rathbones amidst these industry challenges.
Sectors
- Wealth Management
- Investment Advisory
Geography
- United Kingdom – Rathbones is a UK-based wealth manager, and the article discusses the company's executive changes and strategic moves within the UK market.
Industry
- Wealth Management – Rathbones is a prominent player in the wealth management industry, focusing on providing investment management services for individuals and institutions. The article discusses leadership changes and strategic developments within this sector.
- Investment Advisory – Jonathan Sorrell's background in investment firms like Capstone and Man Group highlights the focus on advisory roles in investment strategies, relevant to his new position at Rathbones.
Financials
- 839 million GBP – The acquisition cost of Investec Wealth & Investment UK by Rathbones.
- 100 billion GBP – The amount of assets under management by Rathbones after its expansion.
- 1.6 billion GBP – The acquisition cost paid by Royal Bank of Canada for Brewin Dolphin as part of industry consolidation.
- 9 billion GBP to 109 billion GBP – The growth in Rathbones' funds under management during Paul Stockton's tenure.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Rathbones | Target Company | Company | A UK wealth management firm undergoing leadership transition and strategic expansion. |
| Jonathan Sorrell | Incoming CEO | Person | Former president of Capstone Investment Advisors, appointed as the new CEO of Rathbones. |
| Paul Stockton | Outgoing CEO | Person | Current CEO of Rathbones, retiring after 16 years of leadership and significant expansion. |
| Capstone Investment Advisors | Previous Employer | Company | An investment firm specializing in derivatives, where Jonathan Sorrell served as president. |
| Man Group | Previous Employer | Company | A FTSE 250 investment firm where Jonathan Sorrell served as president and CFO. |
| Goldman Sachs | Previous Employer | Company | An American multinational investment bank where Jonathan Sorrell worked as a managing director. |
| Investec Wealth & Investment UK | Acquired Company | Company | A company acquired by Rathbones as part of its strategic expansion. |