UK – Tony Shearer is to leave as chief executive of Singer & Friedlander following the acquisition of the firm by Iceland’s Kaupthing.

Shearer, 55, will be replaced by Armann Thorvaldsson, who’s currently Kaupthing’s head of investment banking. Shearer, who become CEO at the start of this year, will leave in a month’s time.

Chief operating officer and finance director Warwick Jones, 53, will leave in March next year.

Thorvaldsson will be replaced as investment banking head by his deputy Helgi Bergs.

Shearer joined the S&F board in 2003, having previously been deputy chief executive and finance director at Old Mutual International.

Jones joined the board on January 1. He was previously finance director at Leopold Joseph Holdings plc.

Kaupthing bought the UK firm in July this year.

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