One of the world's best known hedge fund managers, Lansdowne Partners has announced that its current CEO, Paul Ruddock will be retiring come June in order to focus on his charity work and arts interests. He is currently the chairman of the Victoria and Albert Museum of London and trustee of the Metropolitan Museum of Art in New York.
Ruddock co-founded Lansdowne with Steven Heinz back in 1998 and built it to become one Britain's richest financiers as well as well connected contributor to many arts foundations and to the ruling Conservative Party.
While Ruddock does not make investment decisions for the fund manager, he would be turning over the reins to his successor but will remain as a shareholder of the firm. Among the shareholdings of Lansdowne are Lloyds Banking Group and Manchester United. The main fund of the firm is the Developed Markets fund with a current valuation of US$8.9 billion. It currently manages US$12.4 billion and employs 85 individuals.
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