A founding member of River and Mercantile Asset Management is resigning as a partner and portfolio manager following the firm's acquisition by AssetCo.
Dan Hanbury manages the ES River and Mercantile UK Equity Smaller Companies Fund.
He also ran the ES River and Mercantile UK Equity Income Fund, which as at 31 December 2021 represented approximately £674m and £116m of assets under management for the two funds he managed.
Hanbury will be succeeded by George Ensor, who will manage the Smaller Companies Fund.
Ensor has been with River and Mercantile Asset Management since 2014. He managed the successful R&M UK Micro Cap Investment Company and has worked closely with Hanbury on the Smaller Companies Fund for a number of years.
Hanbury started his career with Schroders on the UK fund management team, before he joined the research department as an analyst.
In 2000, he joined Investec Asset Management and was responsible for the UK Smaller Companies Fund and the UK Unconstrained portfolio.
Last month, AssetCo confirmed that it had acquired River and Mercantile Group for £98m. Soon after that, the Martin Gilbert-chaired firm appointed Alex Hoctor-Duncan as chief executive of the group.
An AssetCo spokesperson said: “Asset management is a people business and individuals leaving and joining organisations is a regular occurrence.
"We have confidence in the senior executives and the investment management team at River and Mercantile to ensure a smooth transition of responsibilities and to continue to deliver for investors.”
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