Rathbones Group has announced that its group chief executive, Paul Stockton, will retire on 30 September 2025 after 16 years with the firm.

Stockton has served as group chief executive for six years, having been appointed to the role in May 2019.

Prior to this, he served as managing director of Rathbones Investment Management from May 2018 and as group finance director from 2008.

Stockton will be succeeded by Jonathan Sorrell, who will join the company as CEO designate, subject to regulatory approval, on 1 July 2025.

Seeking a smooth handover, Sorrell will be appointed to the boards of Rathbones Group and Rathbones Investment Management upon receipt of regulatory approval, at which time Stockton will retire from both boards.

Stockton will remain available for handover support following this until 31 December 2025.

During his time with the firm, Rathbones noted that Stockton had supported and executed several strategic initiatives, including the combination with Investec Wealth & Investment (UK).

Sorrell will join Rathbones from Capstone Investment Advisors, where he has been president since January 2020.

Prior to this, he was chief financial officer and then president of Man Group.

Commenting on the announcement, Rathbones chair, Clive Bannister, said: "The board is delighted to appoint Jonathan as group chief executive.

“Jonathan brings a formidable leadership track record at the most senior level of the broader investment and asset management industry, working across complex global organisations.

“In an excellent field of potential candidates, his investment background and experience combined with his energy, ambition and a clarity of strategic thinking stood out to the board.

“On behalf of the board, I would like to take this opportunity to pay tribute to the outstanding contribution that Paul has made to Rathbones. He has worked with great passion, energy and commitment to make Rathbones the leader in wealth management across the UK.

“Paul has navigated successfully significant geopolitical changes, challenges in the regulatory and market environments and has steered the group into a position of strength, from which it can continue to develop."

Stockton commented: "Rathbones has been a big part of my life, and my decision to retire has inevitably been taken with mixed emotions. It has been an honour and privilege to serve as group chief executive. I am deeply proud of our people and everything they have achieved. I would like to thank every one of them for their significant contribution.

“With the support of the board and a talented group executive team, we have laid strong foundations to support the next phase of growth for the group. All remain fully committed to deliver on our strategy. Jonathan brings many strengths to the group, and I very much look forward to working with him to ensure a successful transition."

Sorrell added: "I want to thank the board for their support and the opportunity they have given me at Rathbones. Paul has been instrumental in building an incredibly strong platform at Rathbones and I look forward to working closely with him during this transition period to benefit from his knowledge and experience.”

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