Small cap fund manager Gervais Williams has resigned from the Gartmore Investment Management and is to be replaced by Adam McConkey.

The head of UK Smaller Companies at Gartmore is set to leave his role by the end of the month, with McConkey stepping up.

Adam McConkey and senior investment manager Rob Giles will co-manage the Gartmore UK & Irish Smaller Companies fund. The pair will also continue to manage the Gartmore AlphaGen Volantis hedge fund and offshore Gartmore UK Small Cap Best Ideas Fund.

Williams will relinquish his role as manager on a number of investment trusts, including the Gartmore Fledgling Trust, Gartmore Growth Opportunities and Gartmore Irish Growth Fund.

Harmesh Suniara will take over as manager on the Gartmore Fledgling Trust, however, no arrangements have been made for the remaining investment trusts.

Dominic Rossi, chief executive at Gartmore, said, 'It is testament to the strength in depth in the Gartmore UK Smaller Companies team that we can call upon a manager of Adam’s calibre.

'We are confident that, with the support of the hugely experienced Rob Giles and the rest of the team, Gartmore will continue to be a leading light in the specialist management of UK Small Cap equities.'

The shock resignation is the latest blow for the firm, which recently witnessed the departure of star European fund mangager Guilliaume Rambourg.