Spencer Young will step down as HFA Holdings chief executive following the company's annual general meeting next month.
Young, who founded the company in 1998, will remain with the company as non-executive chairman of the board.
HFA informed the market of Young's move in a statement to the Australian Securities Exchange yesterday.
In line with the change, the company's two remaining chief executives, Craig Mowll at Certitude Global Investments in Australia and Sean McGould at Lighthouse Partners in the United States, along with their respective boards, will report directly to the HFA board.
"On behalf of the board and management, I thank Spencer for his enduring commitment to HFA through multiple global market cycles and events and look forward to him continuing to contribute to the company through his ongoing role as non-executive chairman of the board," HFA non-executive director Michael Shepherd said.
Young founded HFA in 1998 and as chief executive grew the business into a multinational funds management company with US$6 billion in assets under management.
