Berkshire Hathaway
Warren Buffett will retire as chief executive at the end of 2025 after 60 years leading the company.
The 94-year-old made the announcement at the firm’s annual general meeting (AGM) over the weekend, naming vice-chair Greg Abel as his successor.
Neither Abel, or any of the Berkshire Hathaway board, knew that Buffett was going to make the announcement.
Buffett said he “would still hang around and conceivably be helpful in a handful of cases”.
“I think the board would be more welcome to giving [Abel] more authority on large acquisitions probably if they knew I was around,” he added.
Canaccord Wealth
The firm has appointed Gary Steel as a senior wealth planner.
Based in London, he joins the firm from Brewin Dolphin, where he held the role of divisional director, providing financial planning and investment advice to wealthy individuals and their families.
Steel has worked in financial services for 25 years, with a particular emphasis on “lifestyle financial planning,” and helping clients align their finances with their ambitions.
He will report to head of wealth planning, David Goodfellow.
FCA
The Financial Conduct Authority (FCA) has appointed David Geale as permanent executive director for payments and digital finance and managing director of the Payment Systems Regulator.
In his role, Geale will be responsible for helping to deliver the National Payments Vision and driving the FCA’s work on open banking and digital finance.
He will also play a key role in the work to consolidate the PSR into the FCA, as announced by the Government in March. He will also be responsible for supervising payments and cryptoasset firms under the recently announced regime.
Tyndall Investment Management
Co-managers of the £36m VT Downing European Unconstrained Income fund, Mike Clements and Pras Jeyanandhan, have transferred to Tyndall alongside the fund, which is expected to be renamed the VT Tyndall European Unconstrained fund.
According to Tyndall, there will be no change to its management team or investment process.
The strategy, which launched in 2020, contains a portfolio of 30 to 40 European stocks.
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