Castlestone Management chief executive Angus Murray is to step down, replaced by director of global sales Jerry Devlin.
The announcement was made in an email to providers. Murray (pictured) will stay on as chief investment officer based in the British Virgin Islands. The email states the decision is in response to FSA "concerns", but is independent of the decision to close the firm's UCITS funds. There will also be changes to the asset manager's compliance team and two non-executive directors will join the board. Yesterday Castlestone announced it is to wind up its listed funds business, consisting of four portfolios, three of which were suspended earlier this year. At a meeting on 9 August, the ...
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