Ruffer has announced that Neil McLeish will become the firm's co-chief investment officer, in another major succession planning step at the asset manager. McLeish will work alongside Henry Maxey, who has managed the firm's investment strategy and asset allocation with founder Jonathan Ruffer since 2010. McLeish joined Ruffer last September as head of investment strategy.

He had previously worked at Morgan Stanley for nearly 30 years, holding leadership roles in research and trading and most recently working as global head of macro research. Additionally, the firm's founder (pictured above) is handing control of the firm to its working partners, a move that is intended to secure its future as an independent private partnership. Jonathan Ruffer himself will remain chair and continue to be ‘closely involved' in investment strategy at the firm, which is best known for its archly defensive approach and multi-asset portfolios, including the Ruffer Investment Company (RICA) and Ruffer Total Return fund.

He had already stepped back from day-to-day management and the executive board in 2020.