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View the article online at http://citywire.co.uk/wealth-manager/article/a744753

Ruffer founder steps down

by Dylan Lobo on Apr 04, 2014 at 08:09

Ruffer founder steps down

Ruffer co-founder Jane Tufnell is to retire from the wealth firm.

Tufnell (pictured) founded the business in 1994 alongside Jonathan Ruffer and Earl Ferrers. She will step down from Ruffer’s management board and leave the firm at the end of June.

Tufnell has played a pivotal role in the evolution of Ruffer, which now employs 198 people and has offices in London, Edinburgh and Hong Kong.

Results released by the group in December showed assets under management stood at £16.1 billion at the end of 2013, while turnover during its reporting year rose 11% to £146 million. This contributed to a 29% rise in profit.

Jonathan Ruffer paid glowing tribute to Tufnell’s contribution over the last 20 years. ‘The whole character of the firm, which is now its permanent feature, was in a large part set by Jane,’ he said in a statement.

‘Her departure from the business is a moment to realise that firms do not become what they are by chance but through the people who forge them from their earliest years.

This is a poignant moment for me personally and we all owe her a very great deal. All of us wish her much happiness and success in her future endeavours’.

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