TwentyFour Asset Management, the London- and New York-based fixed income fund manager and boutique of the Switzerland-based Vontobel Group, has appointed Ben Hayward to chief executive officer.
Hayward, a founding partner at TwentyFour, will replace Mark Holman, who has been the firm’s CEO since its inception in 2008 and will relinquish his role in January 2022.
Over the last decade TwentyFour has enjoyed rapid growth in terms of assets under management, its client base and their geographies. In that time Mark has combined his duties as CEO with being a full-time portfolio manager for TwentyFour’s flagship Strategic Income fund, but the firm’s growth has made it increasingly difficult for him to dedicate enough time to both functions. Mark will now spend 100% of his time on portfolio management as a member of the firm’s Multi-Sector Bond team.
Ben has been a member of TwentyFour’s Executive Committee for six years, and will remain so in his new role as CEO. He will be relinquishing day-to-day portfolio management responsibilities in the Asset-Backed Securities (ABS) business but remain a member of the firm’s asset allocation committee. The three existing partners in the ABS business, Rob Ford, Douglas Charleston and Aza Teeuwen, alongside eight other investment professionals, will continue to drive that strategy.
TwentyFour will also be expanding its Executive Committee with the addition of Eoin Walsh (partner) and Sujan Nadarajah (partner), following the addition of John Magrath (partner) earlier in the year.
“As we have grown we have consistently invested in our business, our people, and of course our own management team,” said Graeme Anderson, chairman at TwentyFour Asset Management.
“Since inception Mark has led the management team and the firm exceptionally well, making TwentyFour one of Europe’s most respected fixed income boutiques. Ben Hayward has been a key member of our management team for many years and I look forward to continuing to work with him as our new CEO.
“These changes represent a natural positive evolution at TwentyFour Asset Management that we believe is in the best interests of our clients, and will help us maintain our excellent long term performance.”