Terry Smith names Julian Robins as potential Fundsmith successor

'Most' of the business will remain in current employees' hands

Chief executive of Fundsmith Terry Smith has named head of research Julian Robins as his potential successor, with the fund management veteran vowing to keep "most" of the £26bn AUM business in the hands of current employees.

Smith, 67, who has been chief executive of Fundsmith since he founded it in 2010, said the firm has made a number of new hires in recent years, some of whom are also showing the potential to become his successor. Fundsmith surges into Pridham Report top ten as Baillie Gifford tops active sales Speaking at the Fundsmith Equity AGM yesterday (3 March), Smith told investors that Robins is "the first line of defence in terms of succession". "One day [investors will] get a letter from me by email, which… I've already written," he explained. "I won't be a 'fellow investor' at the time...