TwentyFour Asset Management promotes founding partner to CEO
New York and London-based fixed income manager TwentyFour Asset Management has appointed Ben Hayward as chief executive.
Hayward, founding partner of TwentyFour, will replace Mark Holman, who has served as the company’s CEO since its inception in 2008. Holman will step down in January 2022.
Due to the rapid growth TwentyFour has experienced in recent years in terms of customer base and assets under management, Holman realized that he could no longer combine his roles as CEO and full-time portfolio manager to the flagship fund of TwentyFour Strategic Income. TwentyFour said Holman will now devote 100% of his time to portfolio management as a member of the firm’s multi-sector bond team.
Hayward will remain a member of TwentyFour’s executive committee in his new role as CEO, but will step down from his day-to-day portfolio management responsibilities in the Asset-Backed Securities (ABS) business. He will also remain a member of the firm’s asset allocation committee.
The three existing partners in the ABS business, Rob Ford, Douglas Charleston and Aza Teeuwen, along with eight other investment professionals, will continue to lead the strategy of the company.
TwentyFour will also be expanding its executive committee with the addition of Eoin Walsh (partner) and Sujan Nadarajah (partner), following the addition of John Magrath (partner) earlier in the year.
âAs we have grown, we have consistently invested in our business, our people and of course our own management team,â said Graeme Anderson, President of TwentyFour Asset Management.
âSince its inception, Mark has led the management team and the company exceptionally well, making TwentyFour one of Europe’s most respected bond shops. Ben Hayward has been a key member of our management team for many years and I look forward to continuing to work with him as the new CEO.
âThese changes represent a natural positive development at TwentyFour Asset Management which we believe is in the best interests of our clients and will help us maintain our excellent performance over the long term. “