Tullett Prebon’s CEO, Terry Smith, intends to stand down from his position.
He will focus on asset management firm, Fundsmith, which he founded in 2010.
The Fundsmith equity fund reached £2bn ($3.35bn) in assets under management in May, having delivered an annualised return of 16.1% per annum and a total return of 70.7% (T Class Accumulation Shares) since inception to May 30 2014.
The fund outperformed the MSCI World Index by 26% and the average IMA Global equity fund by 38%.
Fundsmith is also planning to launch the Fundsmith Emerging Equities Trust in June.