TwentyFour Asset Management promotes founding partner to CEO

Growing pains sees current CEO step down to focus on portfolio management role.

New York and London-based fixed-income manager, TwentyFour Asset Management has appointed Ben Hayward as its new chief executive officer.

Hayward, a founding partner at TwentyFour, will replace Mark Holman, who has been the firm’s CEO since its inception in 2008. Holman will relinquish his role in January 2022.

Due to the rapid growth TwentyFour has experienced in recent years in terms of client base and assets under management, Holman found he could no longer combine his duties as CEO with being a full-time portfolio manager for TwentyFour’s flagship Strategic Income fund. TwentyFour said Holman will now spend 100% of his time on 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 relinquish 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, alongside eight other investment professionals, will continue to drive the firm’s strategy.

TwentyFour will also expand 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.

“As we have grown we have consistently invested in our business, our people, and of course our own management team,” said Graeme Anderson, chairman at TwentyFour Asset Management.

“Since inception Mark has led the management team and the firm exceptionally well, making TwentyFour one of Europe’s most respected fixed income boutiques. 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 our new CEO.

“These changes represent a natural positive evolution at TwentyFour Asset Management that we believe is in the best interests of our clients, and will help us maintain our excellent long term performance.”