Ruddock to step down as Lansdowne Partners head

Sir Paul Ruddock, head and co-founder of hedge fund Lansdowne Partners, is to step down from his role at the end of June.

Ruddock, who was knighted last year for services to arts and philanthrophy, plans to retire from the asset management industry and focus on his charitable activities. Before co-founding Lansdowne with Steven Heinz in 1998, Ruddock was head of international development at the US arm of asset manager Schroders. Lansdowne Partners, which now has $12.4bn under management, will now begin the search for a successor, the firm said. Ruddock will remain a significant partner in the firm. The hedge fund has seen a slight decline of assets from the peak of $16bn two years ago, but has shown s...