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Asset Management Correspondent

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Paul Stockton, chief executive of UK-listed wealth group Rathbones, will retire later this year after 16 years with the business.

According to a stock market announcement on 20 March, Stockton — who has been in the CEO role for the past six years — will be replaced by Capstone Investment Advisors president and former Man Group executive Jonathan Sorrell.

Stockton, who has been with the UK wealth firm for the past 16 years, will be replaced by Jonathan Sorrell

David Ricketts

Business

Deals

Investing

A&O Shearman boss Hervé Ekué: ‘My godfather was accused in a failed coup… he inspired me to be a lawyer’

A&O Shearman boss Hervé Ekué on skyrocketing pay rises: ‘We haven’t reached the top’

London Stock Exchange fires US employee after video of ‘racist’ altercation

BNP Paribas flies in Lynagh from New York to head UK global banking

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Mark Lynagh is succeeding Matthew Ponsonby who has resigned from the bank

PwC hires Jefferies managing director in deals push

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Big Four firm boosts insurance M&A team with hire from US bank

Citi trader John Nihill joins ex-Brevan Howard portfolio manager’s hedge fund 

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Citi trader John Nihill joins ex-Brevan Howard portfolio manager’s hedge fund

Carl Radford’s White Elk Partners has also hired former Citi director Rob Jewell

The European Union has a plan to counteract the swathe of tariffs U.S. President Trump is planning to impose on foreign goods, European Commission President Ursula von der Leyen said.

EU Has Plan to Retaliate on U.S. Tariffs, Von der Leyen Says

The Japanese investment firm is entwining its fortunes with a company that expects to lose billions of dollars for years to come, in the hope that it will emerge as the leader in AI.

How Is SoftBank Funding Its Mega Investment in OpenAI? A Lot of Debt

The BlackRock CEO says he wants individuals to have better access to the menu of private and illiquid investments that have long been core holdings of pensions, endowments and other institutions.

Larry Fink Says Regular Americans Need Private Assets Too

The prospect of a radical escalation in the global trade war in the coming days has nearly doubled the probability of a recession in the U.S. economy in the next 12 months to around 35%, according to Goldman Sachs.

Goldman Sachs Lifts U.S. Recession Probability to 35%

Tariff uncertainty and a flagging tech trade dragged the S&P 500 and Nasdaq lower to start 2025.

U.S. Stocks Post Worst Quarter Since 2022 on Threat of Trade War

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