UK - Capital International has confirmed the retirement of one of its senior figures, Peter Armitage.

Armitage, who was a portfolio manager for pension funds and had the title of chairman at Capital International Ltd., left last month.

The company is part of the US-based Capital International. It manages £50bn (€74bn) for institutional investors outside the US. His clients included UK local authority funds including Northumbria, Norfolk and Strathclyde.

Capital informed its clients that Armitage would retire from July 1.

His various responsibilities would be assumed by Michael Ericksen and Lionel Sauvage, a Capital spokesman said.

Sauvage is an 18-year company veteran, a portfolio manager with responsibilities for both Capital Guardian Trust Co. and Capital International Inc. Ericksen is president and a director of Capital International Ltd. he's been with the firm since 1987.

Armitage's retirement has resulted in more than £11,000 being raised for a children's charity via the just giving website.