UK - Hermes Fund managers has appointed Saker Nusseibeh as permanent replacement for departed chief executive Rupert Clarke, the company has said.

Nusseibeh has been Hermes' acting CEO since Hermes and Clarke "amicably" parted ways late last year after he spent nearly four years in the position.

Chairman Paul Spencer said that after four years of a "major" investment programme to ensure the right operational infrastructure was in place, Nusseibeh was the "right leader to take Hermes forward".

The new chief executive added: "I am confident that we will build on the strong investment performance generated to date and continue to meet the needs of our clients, while growing our presence in the external market."

Nusseibeh has been with the company since mid-2009, joining the board and being named head of investments at the time. A spokeswoman for Hermes confirmed that Nusseibeh, who has been both acting chief executive and head of investments over the past six months, would continue in his dual role.

At the time of Clarke's departure, Nusseibeh praised the former CEO's time at Hermes - preceded by four years in charge of Hermes Real Estate Investment Management - and said he was "absolutely well-placed" to oversee the growth of operational infrastructure.

He further told IPE last November: "We now come to a stage where, given our strong performance numbers - given all that's been built - we need to go forward and start seriously raising assets from third parties and acting like a third-party asset manager."

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