UK – The chief executive of Baring Asset Management’s investment management group, Peter Wolton, is to leave at the end of June.

Baring Asset Management spokeswoman Jill Hendry said the departure was by mutual consent and declined to give any further details.

Wolton will be replaced on a permanent basis by the overall chairman and chief executive of BAM, David Brennan.

Brennan took over as CEO of BAM from John Bolsover last July, when Wolton joined from Schroders.

BAM, part of Dutch financial services group ING, has around eight billion euros in European pension fund assets under management and a total 27.8 billion euros under management.