Mike Webb named CEO of Rathbones unit trust business

Former Invesco Perpetual CEO Mike Webb will take over as chief executive of Rathbone Unit Trust Management, replacing Peter Pearson Lund.

Webb, who has more than 25 years experience in the industry, is expected to assume the position early next month, ahead of the retirement of Pearson Lund at the end of March.

He joins from Hermes Fund Managers, where he was head of business development - while Webb has also previously been managing director of the retail division at GT Global Asset Management and sales and marketing director at Prolific Financial Management.

"I was attracted to Rathbones because it is a highly respected brand within the marketplace and has a talented and stable investment team," Webb says.

Pearson Lund adds: "After an exciting and highly enjoyable 10 years at Rathbones, I am confident that in handing over the baton to someone of Mike's calibre.

"Rathbone Unit Trust Management will continue to go from strength to strength, guided by his in-depth knowledge and experience of the UK retail funds market."