Bramson stands down as chairman of F&C

Edward Bramson is to stand down from his role as chairman of F&C Asset Management, to be replaced by Kieran Poynter.

Bramson (pictured) is a founder of activist investor Sherborne Investors, who took his position at the head of the board of F&C following a coup in 2011. Bramson recently said he was preparing to redistribute some of the 19% stake it holds in F&C to Sherborne's own investors, according to reports, which include asset managers Threadneedle and Aviva. His departure from the board could indicate Bramson believes he has managed to turn around the fortunes of F&C. Bramson introduced a raft of cost-cutting measures designed to save the business £50m, which helped improve profits at the a...