Veritas to split into two businesses in corporate reorganisation
EUROPE – Veritas Asset Management UK and its parent the Real Return Group have announced plans to create two distinct, regulated limited liability partnerships as part of a wider corporate reorganisation.
The Veritas private client business will be re-named Veritas Investment Management, while the funds and institutional business will retain the name Veritas Asset Management.
Veritas Asset Management will be led by four principals: Charles Richardson, fund manager and chairman; Andy Headley, fund manager; Ezra Sun, fund manager; and Richard Grant, COO.
Stewart Newton will become chairman of Veritas Investment Management, while Anthony Rosenfelder will continue in his role as chairman of the international private client business, Veritas AG in Zurich.
The company said the reorganisation would help the two businesses focus on managing growth while dealing with differing regulatory requirements and strategic objectives.
Both businesses will also retain their current investment approaches.
Veritas Asset Management is an investment boutique with offices in London and Hong Kong and £7.5bn (€9.4bn) in total assets under management.
The company operates as a partnership and is 100% owned by management and employees.