Chris Bacon

Ruffer has appointed a new chief executive in the form of Chris Bacon.

Mr Bacon replaces Clemmie Vaughan, who has decided not to return to the role next year, following maternity leave.

Mr Bacon joined Ruffer from Rothschild in 2017 as a senior adviser at the firm and is a member of Ruffer's executive team. He is currently interim co-chief executive, alongside Miranda Best, Ruffer's head of investments. Both will retain these roles until the end of the year.

From January 2022, Mr Bacon will become Ruffer's chief executive and Miranda Best will become his deputy, subject to regulatory approval. Both are joining the board of Ruffer.

Ms Vaughan will remain a partner until March 2022 to support a full handover.

Ruffer's investment team is unchanged and continues to be led by chief investment officer Henry Maxey and chairman and founder Jonathan Ruffer.

Mr Ruffer said in a statement: “Chris is a natural captain for the high seas, and he’ll be leading a ship that Clemmie has readied for battle.

“I’ll miss Clemmie a great deal and am full of warmth and admiration for all she has achieved for us. Ruffer has much to thank her for, and much to look forward to in the years ahead.”

Ms Vaughan said: “Ruffer has been a place where many people – including myself – have realised their potential, and the future looks bright.

“After 16 very enjoyable years, it's been a difficult decision to move on to something different, but now is the right time for me to develop the next phase of my career beyond Ruffer.”