Downs retires as managing director of OBSR

Richard Downs is stepping down as the managing director of Old Broad Street Research (OBSR), to be succeeded by Richard Romer-Lee and Nigel Whittingham.

He retires on 22 October, when investment director Romer-Lee and development director Whittingham will become joint managing directors. After a break of a few months, Downs will return next year in a consultancy role. Downs founded the firm with Romer-Lee in 1999 following a management buyout of Buck Consultants' research business. Whittingham joined in 2007, and ratings agency Morningstar acquired the business in April this year. The group says Downs has been instrumental in overseeing the early stages of integration with Morningstar "OBSR has been a major part of my life, so it is n...