Rathbones investment head served with redundancy

Exit-Man-Door-Depart-Leave-700.jpg

Rathones head of investment management Paul Chavasse has been made redundant and will begin gardening leave at the year’s end, the company confirmed today in a filing.

Chavasse joined Rathbones in 2001 as chief operating officer having previously been head of NatWest Portfolio Management.

He became head of investment management in 2012.

He will continue to to receive his current salary of £293,550 per annum and pension of £35,426 per annum until his termination date at the end of March.

Chavasse also receives a statutory redundancy payment of £9,819.

Rathbones confirms he will remain available during his notice period to ensure an “orderly transition”.

Chief executive Philip Howell says Chavasse has made a “significant contribution to Rathbones over many years”.

“As a member of the group executive team and the board of directors, he has played an important role in helping steer the Company through a period of growth and success.”

Howell wished Chavasse “the best for the future”.