Wealth manager Rathbone Brothers has announced head of investment management Richard Lanyon will step down from managerial responsibilities in 2012.

He will be replaced - after ten years in the role - by current chief operating officer Paul Chavasse.

Lanyon will continue as an investment director at the company, but will also step down from the board when he relinquishes the role.

The company has begun a search for a new chief operating officer to replace Chavasse.

Lanyon joined Rathbone Brothers in 1992 focusing on private client discretionary management, before joining the board in 1996.

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