Veritas splits private client and fund arms in overhaul

Veritas is to divide its asset management and private client businesses into two separate groups, in an overhaul of the company's structure.

The reorganisation of the business will see the private client business re-named Veritas Investment Management. The group's fund and institutional business will retain the name Veritas Asset Management. The asset management business will be led by Charles Richardson, the current chairman (pictured), who runs the group's popular £2.2bn Global Equity Income fund. He stepped down as CEO earlier this year. Richardson is now one of four principles running the business, alongside fund managers Andy Headley and Ezra Sun, as well as chief operating officer Richard Grant. The £7.5bn asse...