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Ruffer Channel Islands Limited
Management Board
Jonathan_Ruffer
Jonathan Ruffer
Chairman
Trained as a stockbroker and barrister before moving into private client investment management in 1980, with Dunbar Fund Managers. Formerly Chief Investment Officer of Rathbone Bros plc. He established Ruffer Investment Management Limited in 1994, which transferred its investment business to Ruffer LLP in 2004.
Robin Hindle Fisher
Robin Hindle Fisher
Deputy Chairman
Spent over twenty five years in institutional fund management at leading firms including Henderson, where he led the pension fund business and was on the PLC board, and Phillips & Drew Fund Management, where he was ultimately CEO. Robin is a Durham graduate and a Sloan Fellow at London Business School. He now works as a business coach and executive mentor and is a partner at Hay Hill Partners LLP.
Clemmie_Vaughan
Clemmie Vaughan
Chief Executive Officer
Joined Ruffer in 2005 and manages investment portfolios for individuals, trusts, charities, and pension funds. She is a Governor of St Mary’s Ascot. She completed the Advanced Management Program at IESE in Barcelona in 2017 and holds an honours degree in economics and geography from Exeter University. She became Chief Executive in April 2017.
Henry_Maxey
Henry Maxey
Chief Investment Officer
Joined Ruffer in 1998 after graduating from Oxford University with a first class honours degree in economics and management. He became a CFA charterholder in 2003. He managed the LF Ruffer Total Return Fund and LF Ruffer Equity & General Fund between 2001 and 2006. He joined the Executive Committee in 2006 and became Chief Investment Officer in 2010. Between 2012 and 2017 he combined this role with that of Chief Executive. Following the company’s growth, he relinquished the CEO role in April 2017 to focus on leading Ruffer’s investment strategy.
Myles_Marmion
Myles Marmion
Chief Financial Officer
Worked at ED&F Man Holdings where he was Group Chief Financial Officer and previously Head of Corporate Finance and Risk. Myles started his career at Ernst & Young and then worked for Robert Fleming Holdings Limited and Maple Financial Group. He joined Ruffer in 2009.
Ruffer
Miranda Best
Research Director
Joined Ruffer in 2005 after graduating from Durham University with a first class honours degree in economics. She became a CFA charterholder in 2009. She has managed the Ruffer illiquid strategies funds since 2011 and became head of the specialist funds in 2016. She joined the Management Board in June 2017.
Paula_Walter
Paula Walter
Chief Operating Officer
Joined Ruffer in 2016 from Newton Investment Management, where she was the Chief Technology Officer. She began her career in the technology division of Goldman Sachs in 2000, supporting the equities and investment management divisions. An alumna of the Universities of Cape Town and Oxford, she holds honours degrees in mathematics and linguistics and a DPhil in linguistics.
Earl_Ferrers
Earl Ferrers
Non-Executive Director
Fellow of the Institute of Chartered Accountants. Trained at Ernst & Whinney, before working at BICC plc, Viking Property Group and Norseman Holdings Ltd. He joined Ruffer as one of its founders in 1994, retired as Managing Director in 2011 and returned as a Non–Executive Director in 2012. He has been a Director of the PIMFA (formerly WMA) since 2007 and was Chairman of the PIMFA Investment Firms’ Committee from 2005 to 2010.
Fleur Meijs
Fleur Meijs
Non-Executive Director
Former financial services partner at PwC, specialising in complex audits and high–profile advisory projects for financial institutions, mainly investment banks. Alongside her corporate non–executive directorships with Ruffer, Fidelity European Values plc and Invesco Asia Trust plc., she is active in the charity sector with United World Colleges (UWC). Fleur joined Ruffer’s Management Board in 2018.
Rushir_Asnani
Ruchir Asnani
Research Director
Previous work includes six years as an auditor with Deloitte and PriceWaterhouseCoopers, an accounting–based pan–European role in equity research at CFRA/Risk Metrics and two years as a research analyst at AKO Capital. He graduated with a Masters in Business from Oxford University in 2007 and joined Ruffer in 2012.
Marnoch_Aston
Marnoch Aston
Research Director
Joined the Financial Stability Directorate at the Bank of England in 2008, prior to which he was a founding partner of Clematis Capital. He has an MSc in Economics and Finance from Warwick University and joined Ruffer in 2012.
Chris_Bacon
Chris Bacon
Communications Director
Worked at the Foreign Office, UBS and Barclays before joining Rothschild in 2007. He holds a first class honours degree in Economics and International Development from the University of Bath and studied marketing at London Business School. He joined Ruffer in 2017.
Hamish_Baillie
Hamish Baillie
Investment Director
Joined Ruffer in 2002. He founded and manages the Edinburgh office of Ruffer LLP which opened in September 2009 and is a director of Ruffer (Channel Islands) Limited. He manages investment portfolios for individuals, trusts, charities and pension funds and is the lead manager of the Ruffer Investment Company, which is listed on the London Stock Exchange. He is a member of the Chartered Institute for Securities & Investment and a graduate of Trinity College Dublin.
David_Ballance
David Ballance
Investment Director
Previously International Equities Head at Rothschild Private Management and European Equities Head at Rothschild Asset Management. He graduated from Oxford and was a Senior Investment Manager at Allied Dunbar, before moving to Threadneedle as Head of European Equities. He joined Ruffer in 2006 and manages a number of segregated portfolios for institutional and private clients.
Toby_Barklem
Toby Barklem
Business Development Director
Joined Ruffer in 2017, having spent five years at Standard Life Aberdeen in a variety of business development roles focused on financial advisers. He studied history, initially graduating from Exeter University in 2003 and then latterly Imperial College London. Following this he spent seven years as an officer in the British Army.
Ruffer
Alex Barnett
Research Director
Joined Ruffer in 2013, after spending 12 years on the sell side. Began his investment career in Canada in 2000 focusing on healthcare, before moving in 2005 to Jefferies International in Paris, researching pan–European small/mid caps, and then industrials. He is a CFA charterholder.
David_Benson
David Benson
Investment Director
After graduating from Oxford University, he worked at Phillips & Drew Fund Management (1991–1999), predominantly managing UK equity portfolios for pension funds. A consultant for McKinsey & Company from 1999, he joined Deutsche Asset Management in 2004. In 2005, worked as a fund manager at Société Générale, focusing on pooled UK equity and multi–asset portfolios for UK institutions and retail investors. He joined Ruffer in 2010.
Edwina_Blackford
Edwina Blackford
Governance Director
Joined Ruffer in 2012 having spent several years working in the financial services industry, principally for Loudwater Investment Partners, a pre–IPO private equity investment business, and Panmure Gordon, an AIM listed stockbroker.
Benjamin_Boucher-Ferte
Benjamin Boucher–Ferté
Investment Director
Graduated from ESCP Europe in 1999 and joined the Private Wealth Management group of Goldman Sachs in London after completing his National Service with Renault Financial Services. In 2004, he participated in the launch of Fulcrum Asset Management where he was a Director until 2010, when he joined Ruffer.
Des_Brennan
Des Brennan
Research Director
A graduate of City University Business School he worked as an equity research analyst at Sun Life of Canada and ICI Investment Management before joining Clerical Medical Investment Group in 1995. In 2006 he moved to Thornhill Investment Management and joined Ruffer in 2011 to launch the Ruffer UK Mid and Small Companies Fund.
Peter_Carew
Peter Carew
Investment Director
Previously portfolio manager and Head of Private Clients with Credit Suisse UK Ltd, having been a Divisional Director with Carr Sheppard Crosthwaite. Prior to his career in the City, he was in the Army. He holds an MBA from London Business School and he joined Ruffer in 2002.
Alexander_Chartres
Alexander Chartres
Investment Director
Joined Ruffer in 2010 after graduating from Newcastle University with a first class honours degree in history and politics. Alex worked closely with Clemmie Vaughan and Jonathan Ruffer for six years. In 2012, he became a member of the Chartered Institute for Securities & Investment, achieving a merit in the Private Client Advice and Management paper. He specialises in geopolitics and its investment implications, with a particular focus on European and Great Power politics. He is a co-manager of the LF Ruffer Total Return Fund.
Bertie_Dannatt
Bertie Dannatt
Investment Director
Joined Ruffer as a graduate trainee in 2008, following five years in the British Army. A University of Durham graduate, he qualified as a member of the Chartered Institute for Securities & Investments (CISI) in 2010 and became an Investment Director in 2015.
Jamie_Dannhauser
Jamie Dannhauser
Economist
Prior to joining Ruffer in 2014, he spent seven years as a senior economist at Lombard Street Research, an independent macroeconomic research consultancy, with a specific focus on the UK, US and eurozone economies. He graduated from the University of Cambridge in 2006 with a first class honours degree in Economics. He is currently a member of the IEA’s Shadow Monetary Policy Committee.
Hermione_Davies
Hermione Davies
Investment Director
Previously Managing Director of Bessemer Group (UK) Limited, she was Chief Investment Officer of the group’s non–US investments. She graduated from Oxford and started her career at NatWest Bank prior to becoming a Fund Manager of a Japanese–Pacific Unit Trust at Guinness Mahon & Co Ltd. She joined Ruffer in 2009.
Jon_Dye
Jon Dye
Head of Research
Prior to joining Ruffer in 2010, undertook accounting–based pan–European equity research at CFRA/Risk Metrics. Previous roles included Investment Analyst at Dye Asset Management and Newton Asset Management. He has a first class honours degree in government and economics from the London School of Economics and is a CFA charterholder.
Richard_Edwards
Richard Edwards
Head of Dealing
Joined the IT team at Phillips & Drew in 1996. He worked with Dye Asset Management, a hedge fund start up, in 2000, where he covered a number of roles before concentrating on dealing. After moving to Ecofin in 2007, he joined Ruffer in 2010 as Senior Dealer. He progressed to Head of Dealing in 2012.
Ruffer
Lauren French
Investment Director
After graduating from Oxford University she worked at JO Hambro Capital Management, assisting with the transition of James Hambro & Partners LLP. Joined Ruffer in 2010 and became a member of the Chartered Institute of Securities & Investment following completion of the CISI Masters in Wealth Management in 2012, receiving a merit in the Applied Wealth Management paper.
Ruffer
Luka Gakic
Investment Director
Before joining Ruffer in 2011, he spent four years at Lehman Brothers, and then Nomura, where he worked in equity financing and delta–one sales. He graduated from Oxford University in 2006 with a degree in Philosophy, Politics and Economics.
Alex_Grispos
Alex Grispos
Investment Director
Graduated from Imperial College with a first class degree in mechanical engineering. He started in equity research in 1998 at Alpha Trust in Greece and then worked in venture capital for six years. He then joined Top Technology Ventures in the UK, and subsequently became Investment Manager with RTF based in London and St Petersburg, Russia. He joined Ruffer in 2005 and manages the LF Ruffer Equity and General Fund.
James_Heal
James Heal
Research Director
Worked at Lehman Brothers from 2005 to 2007, where he was Executive Director of the Long Term Value proprietary fund. His previous roles include Head of Technology Research at Commerzbank Securities and Director of Regional Asian Technology Research at Indosuez WI Carr Securities in Singapore. He joined Ruffer in 2008.
Jacques_Hirsch
Jacques Hirsch
Research Director
Prior to joining Ruffer in 2011, he spent over ten years in fund management and macro research at firms including Goldman Sachs, GLG Partners and Fulcrum Asset Management. He graduated from École Centrale Paris in 1999, and holds an MSc in Mathematics from Oxford University. He is co–manager of Ruffer Total Return International.
Nick_Horder
Nick Horder
Operations Director
Graduate of Leeds University, spent several years within the control department of the investment bank West LB AG in London, Sydney and Tokyo. He became a member of the Chartered Institute for Securities & Investment in 2005 following the completion of his CISI Diploma. He joined Ruffer in 2003.
Franziska_Jahn-Madell
Franziska Jahn–Madell
Director, Responsible Investment
Joined Ruffer in 2014 after working for ten years at EIRIS, a research provider for environmental, social and governance performance, in several positions. Her last role as a Principal Research Analyst at EIRIS mainly focussed on Corporate Governance issues and criteria development. From 1999–2003 she worked at the Moral Theology department at Frankfurt University for the Business Ethics Chair. In 2003 she graduated from Frankfurt University with a MA (distinction) in Theology and a MA (distinction) in Literature.
Paul_Kennedy
Paul Kennedy
Research Director
Joined Ruffer in 2012 from L.E.K. Consulting. He holds a degree in Jurisprudence from Oxford University and an MBA with Distinction from London Business School. He has many years of experience evaluating investments across industry sectors and has managed the LF Ruffer Gold Fund since February 2015.
Omar_Kodmani
Omar Kodmani
Investment Director
Joined Ruffer in 2019 from EnTrust Permal, a specialist in alternative investments. He originally joined what was the Permal Group in 2000 and held a number of roles there including Chief Executive, and Head of International. He holds a BA in economics from Columbia University, an MBA Finance from NYU-Stern, and is a CFA charterholder.
Alex_Lennard
Alex Lennard
Investment Director
Joined Ruffer in 2006 after graduating from Exeter University with an honours degree in economics and finance; he is a member of the Chartered Institute for Securities & Investment. He initially worked as assistant to Jonathan Ruffer and now manages investment portfolios, concentrating on family offices and corporate pension schemes. He is co–manager of Ruffer Total Return International.
Charles_Lynne
Charles Lynne
Investment Director
Joined Ruffer in 2008 after three and a half years at Morgan Stanley Investment Management, including a placement in Asia. He graduated from Durham University with first class honours in Natural Sciences and became a member of the Chartered Institute for Securities & Investment following completion of the CISI Masters in Wealth Management, receiving a distinction in the Applied Wealth Management paper. He became a Chartered Fellow of the CISI in 2015.
Duncan_Macinnes
Duncan MacInnes
Investment Director
Joined Ruffer in 2012. He graduated from Glasgow University School of Law in 2007 and spent four years working at Barclays Wealth and Barclays Capital in Glasgow, London and Singapore. Duncan is a CFA charterholder. He is co–manager of Ruffer Investment Company.
Annabel_Mackenzie
Annabel Mackenzie
Investment Director
Worked at F&C Asset Management after graduating from the University of Edinburgh in 2003, with an honours degree in economics. She joined Ruffer in 2006 and became a member of the Chartered Institute for Securities & Investment in 2007, following the completion of her CISI Diploma.
Mary_McBain
Mary McBain
Investment Director (Asia)
After graduating from Oxford University in 1985, started work at Invesco MIM as a fund manager on the Asian team. After leaving Invesco in 1990, she spent many years living and working in Asia, for GK Goh Securities, Apollo Investment Management and Ballingal Investment Advisors. She joined Ruffer in 2006 and manages the LF Ruffer Pacific Fund.
Sean_McCreery
Sean McCreery
Investment Director
Joined Ruffer in 1999. Manages a broad range of private client, trust, pension, charity, and OEIC portfolios. Previously worked at Duncan Lawrie Private Bank. Prior to that, was part of the institutional team at Cornhill Insurance, having started his investment career at UK Provident. He is a Chartered member of the CISI.
Justine_McMullan
Justine McMullan
Product Director
Joined Ruffer in 2005, taking on various responsibilities within the Operations and Business Projects departments. She became a Product Manager in 2013. Previous work includes roles at West LB AG (London), Citigroup and Société Générale (Sydney, Australia).
Simon_Martin
Simon Martin
General Counsel
Graduated from Cambridge University then trained as a lawyer at Norton Rose. After three years at Clerical Medical, he joined Gartmore where he spent nine years, latterly as General Counsel for its operations outside the US. He joined Ruffer in 2007.
Lucie_Meagher
Lucie Meagher
Investment Director
Joined Ruffer in 2006 after graduating from Exeter University with a BSc (Hons) in Mathematics. She became a member of the Chartered Institute for Securities & Investment (CISI) in 2009, following the completion of a Diploma in Investment Compliance and the CISI Diploma, receiving a credit in the Private Client Advice and Management Paper.
Philipp_Mitterbauer
Philipp Mitterbauer
Head of Tax
Joined Ruffer in 2009 after having worked at law and accountancy firms in the private client tax sector. He graduated in Law from Regensburg University in 2003, and trained as a lawyer in Germany where he qualified as ‘Rechtsanwalt’ in 2006. He holds an LLM in International Business Law from Exeter University, and is a member of the Association of Taxation Technicians. He sits on various working groups at HMRC where he represents the Personal Investment Management and Financial Advice Association (PIMFA).
David Moos
David Moos
Investment Director, Paris
Joined Ruffer in 2019 from Finalpha, where he was the co-founder. He has 18 years of experience acting as the liaison between portfolio managers and French and Italian investors. His previous roles include IT Asset Management, Crédit Agricole and Banque de l’Union Européenne.
Phil_Morris
Phil Morris
Investment Director
Graduated from Cambridge University then trained as a Chartered Accountant. He then managed his family’s farming business before moving into private client investment management with Barclays de Zoete Wedd Portfolio Management (which became Barclays Private Bank), latterly as Chief Investment Officer. He joined Ruffer in 2005.
Simon_Mountain
Simon Mountain
Research Director
Previously at Bain & Company, having gained ten years’ experience as a strategy consultant. Started his career in PwC Transaction Services advising on European private equity deals. Graduated from University of Cambridge with a Master’s degree in Manufacturing Engineering. He joined the LF Ruffer European Fund team in 2013, becoming co–manager in 2016.
Kentaro_Nishida
Kentaro Nishida
Investment Director (Japan)
After obtaining a BEcon in Japan and studying Russian in Moscow he worked as an interpreter in both Russia and the UK. He moved into equity sales in 1988 for James Capel & Company Limited and then SG Warburg Securities in 1989. He joined Ruffer in 2008 to concentrate on Japanese equities and manages the LF Ruffer Japanese Fund.
Jos_North
Jos North
Investment Director
Joined Ruffer in 2012, having graduated from Edinburgh University with an MA Honours in French and Spanish. He became a member of the Chartered Institute of Securities & Investment following completion of the CISI Diploma, receiving the highest mark in that year. He manages portfolios predominantly for institutional clients and is co-manager of the LF Ruffer Absolute Return Fund.
Dominic_Pearson
Dominic Pearson
Investment Director
A graduate of Manchester University, he was previously at NCL Smith & Williamson for nine years as a research analyst, investment manager and, subsequently, director. He joined Ruffer in 2004 and manages approximately £500m across a variety of client types including private clients, charities, institutional, pensions and private OEICs. He is a Fellow of the Chartered Institute for Securities & Investment.
Oliver_Pile
Oliver Pile
Investment Director
Joined Ruffer in 2009 after three years at Gillespie Macandrew as a trainee investment manager. Graduated from Northumbria University in 2006 with an honours degree in Business Studies. He also worked for State Street and is a member of the Chartered Institute for Securities & Investment.
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Emma Potter
Facilities Director
Graduated from Royal Holloway University before joining Ruffer in 2004. She became a Member of the British Institute of Facilities Management in 2011 and is Secretary for the Committee of the Catering and Hospitality Special Interest Group. She is Chair of the Victoria Partnership’s Sustainable Prosperity steering group which deals with corporate and social responsibility issues for the local community.
Ruffer
Victoria Powell
Regulatory Policy Director
Christopher_Querée
Christopher Querée
Investment Director
Previously Director at Le Masurier, James & Chinn, now absorbed within the HSBC Group. He spent thirteen years there, with responsibility for offshore private clients, moving to Chiswell Associates in 2001 to focus on charity fund management, before joining Ruffer in 2004 to help develop the firm’s charity business. He holds an MBA from Henley Management College and is co-manager of Ruffer’s Common Investment Fund, the Charity Assets Trust.
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Sabine Remnant
Investment Director
Joined Ruffer in 2005 after graduating from Bristol University. She became a member of the Chartered Institute for Securities & Investments in 2009 following the completion of her CISI Diploma, with a credit in the Private Client Advice and Management Paper.
Jenny_Renton
Jenny Renton
Investment Director
Joined Ruffer in 2013. After reading politics at Newcastle University, she worked with oil and gas companies on their corporate and financial strategies before joining the fund team at Ingenious Investments. She is a CFA charterholder and co-manager of Ruffer’s Common Investment Fund, the Charity Assets Trust.
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Cecile Rousseau
Technology Director
Joined Ruffer in 2017, after ten years in various global technology roles at JPMorgan Asset Management. Prior to this, she worked at Accenture as a senior manager for multiple financial services clients. She graduated from ICN, Nancy University in France and holds a MBA from Aston University.
Emma_Rutter
Emma Rutter
Investment Director
Joined Ruffer in 2001 after graduating from Edinburgh University with an honours degree in economics and business studies. She is a member of the Chartered Institute for Securities & Investment, following the completion of her CISI Diploma in 2004.
Steve_Russell
Steve Russell
Investment Director
Graduated from Oxford in Philosophy, Politics and Economics and started work as an equity analyst at Confederation Life in 1987, where he became Head of Equities in charge of £5 billion of equity funds. In 1999 he moved to HSBC Investment Bank as Head of UK and European Equity Strategy, before joining Ruffer in 2003. He became a non–executive director of JPMorgan Fleming Continental Investment Trust in 2005 and is co–manager of the LF Ruffer Total Return Fund.
Harry_Sevier
Harry Sevier
Investment Director
Joined Ruffer in 2008 after graduating with an MA Honours degree from Edinburgh University. He became a member of the Chartered Institute for Securities & Investment on completing the CISI Diploma in 2010, receiving an Outstanding Achievement Award and a merit in the Private Client Advice and Management Paper. He manages investment portfolios for individuals, trusts and charities.
Matt_Smith
Matt Smith
Investment Director
Joined Ruffer in 2011 after graduating from Edinburgh University with a first class honours degree in history and German. He spent 2015 seconded to Ruffer’s Hong Kong office as an equity analyst, and is a fellow of the Chartered Institute for Securities & Investment, having achieved a distinction in the Financial Derivatives paper. He primarily manages portfolios for pension schemes and institutions and co-manages the LF Ruffer Total Return Fund.
Kevin_Smith
Kevin Smith
Investment Director
Joined Ruffer in 2005 after moving to the UK from South Africa, where he briefly worked in the private wealth division of a big four bank. He has an honours degree in finance and is a member of the Chartered Institute for Securities & Investment, following the completion of his CISI Diploma in 2008.
Louise_Stanway
Louise Stanway
Compliance Officer
Joined Ruffer in 1999 after graduating with an honours degree in accountancy and law and became Ruffer’s Compliance Officer in 2007. During 2004, she spent seven months seconded to the Personal Investment Management and Financial Advice Association (PIMFA, formerly WMA). Louise has been a Director of the Joint Money Laundering Steering Group since 2004 and was appointed as its Chairman on 1 July 2016. She has also chaired the PIMFA Financial Crime Committee since 2007.
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Claire Titmarsh
Research Director
Joined Ruffer in 2005 after graduating with a first class honours degree in economics and finance from the University of York. She joined the LF Ruffer European Fund team in 2011, becoming co–manager in 2016.
Andrew_vanBiljon
Andrew van Biljon
Research Director
Joined Ruffer’s institutional client team in 2010 following the completion of his MPhil in economics at Oxford. He moved to the Research team in 2011 to assist with macroeconomic analysis and derivative strategies.
Gillian_vanMaaren
Gillian van Maaren
Head of HR
Previously Global Head of HR at CQS, prior to which she worked in HR at Jupiter Asset Management. Gillian has a wealth of HR experience with roles in asset management, energy and property. She joined Ruffer in 2019.
James_Verdier
James Verdier
Research Director
Graduated from the London School of Economics, then qualified as a Chartered Accountant. He joined Commerzbank as a telecoms analyst in 1999 and subsequently worked on the Special Situations trading desk. In 2005 he joined Lehman Brothers where he worked on the Long Term Value proprietary fund. He joined Ruffer in 2008.
Russell_Vickers
Russell Vickers
Head of Risk, Performance & Reporting
Prior to joining Ruffer in 2010, he worked at GLG Partners as the new business and transitions manager. He brought with him 15 years of operational experience spanning a variety of middle and front office support functions at Prudential Portfolio Managers, Merrill Lynch, BNYM and Société Générale.
Trevor_Wild
Trevor Wild
Research Director
Worked for BZW from 1983, where he led a number of successful research teams, joining Commerzbank in 1999 to begin his career as a Portfolio Manager. In 2005 moved to Lehman Brothers as Managing Director of the Long Term Value Fund. He joined Ruffer in 2008 and is manager of the Ruffer UK Mid and Small Companies Fund.
Alexander_Bruce
Alexander Bruce
Fund Relations Manager
Graduated from the University of Newcastle upon Tyne with a degree in English Literature. Joined Ruffer in 2003. He has worked in product management and investor communications and became a Fund Relations Manager in 2017.
Alice_Brader
Alice Brader-Ellis
Investment Manager
Graduated in 2002 from Durham University with a BA (Hons) in Chinese and Management, and began her career with Bloomberg in London and Hong Kong. In 2007, while still in Hong Kong, she joined JPMorgan Asset Management, and in 2014 transferred back to London with JPMorgan Private Bank as part of the International Manager Selection team. She joined Ruffer in 2017.
Laetitia_East
Laetitia East
Investment Manager
Graduated from Oxford University with a degree in Modern History. She is a member of the Chartered Institute for Securities and Investment, having completed the CISI Masters in Wealth Management, receiving a distinction in the Private Client Investment Advice and Management paper. She joined Ruffer in 2012.
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Sophie Burke-Murphy
Investment Manager
Joined Ruffer in 2012. Previously at Global Asset Management (GAM) for five years as a Junior Analyst and then as a Portfolio Manager’s Assistant. A graduate of Bristol University, she is a qualified Chartered Alternative Investment Analyst and completed the CISI Private Client Investment Advice and Management Paper in 2012.
Edward_Donati
Edward Donati
Investment Manager
Worked at the BBC after graduating from Oxford University in 2007. He joined Ruffer in 2009 and spent four years as an equity analyst in Ruffer’s research team, including a period in Ruffer’s Hong Kong office, before returning to London to manage investment portfolios. He is a Chartered Wealth Manager.
Sahil Gaba
Sahil Gaba
Research Analyst
Joined Ruffer in 2007 after receiving his MBA from the Said Business School (Oxford University). Prior to that, he briefly worked in India as a technology consultant at Headstrong Corp. He is a graduate of the Indian Institute of Technology Delhi, where he studied mechanical engineering.
Julien Galichet
Julien Galichet
Investment Manager, Paris
Previously at Finalpha, he joined Ruffer in 2019. Other roles include co-founding DG Patrimoine, a real-estate asset management company where he managed investments for high net worth individuals. Prior to that he held various positions at IT Asset Management, Deutsche Bank and IFS (Dublin).
Rory_Goodman
Rory Goodman
Investment Manager
Joined Ruffer in 2014 having graduated from Durham University with a first class honours degree in Economics. He is a member of the CISI and a Chartered Wealth Manager, having achieved a merit in both the Applied Wealth Management and Portfolio Construction Theory papers.
Joshua_Gunson
Joshua Gunson
Business Development Manager
Joined Ruffer in 2010, working in the Product and Fund Relations teams. He holds a degree in philosophy from the University of Nottingham and an MBA with distinction from Cass Business School, and focuses on building relationships with financial planners and wealth managers throughout the UK.
Thomas_Hardy
Thomas Hardy
Investment Manager
Joined Ruffer in 2010 after graduating from Bristol University in 2009 with a degree in history. In 2013 he became a member of the Chartered Institute for Securities & Investments, following the completion of his CISI Diploma, receiving a merit in the financial markets paper. He spent 2015 working as an equity analyst in Ruffer’s Hong Kong office.
Rachel Holdsworth
Rachel Holdsworth
Investment Manager
Joined Ruffer in 2013 after graduating from Oxford University with a first class honours degree in biological sciences. She is a member of the Chartered Institute for Securities & Investment following completion of the CISI Masters in Wealth Management, receiving a distinction in both the Private Client Investment Advice and Management and Portfolio Construction Theory papers.
Ajay_Johal
Ajay Johal
Investment Manager
Graduated from the University of Warwick with a degree in history and sociology and worked at Barclays Wealth before joining Ruffer in 2014. In 2019, he worked as an equity analyst in Ruffer’s Hong Kong office, before returning to the charities team in London as an Investment Manager. He is a member of the Chartered Institute of Securities & Investment.
Celine_Matuszewski
Céline Matuszewski
Investment Manager
After a Master’s degree in Economic Sciences at Panthéon–Assas University and Postgraduate studies in Wealth Management, she became a bond portfolio manager for Banque Transatlantique in Luxembourg, before moving to HSBC in France. She held several positions during her 12 year tenure, including looking after some of the wealthiest French families, and was ultimately a product specialist in the Wealth Management Group. Joined Ruffer in 2013.
Alexia_Palacios
Alexia Palacios
Analyst, Responsible Investment
Joined Ruffer in 2014 after graduating from the University of Cambridge with first class honours in land economy. Having gained experience in responsible investment while working with Ruffer’s charity team, she has specialised in this area since 2018. She has completed the PRI Academy Responsible Investment Essentials and Enhanced Financial Analysis courses and is a CFA charterholder.
Othmane_Rachedi
Othmane Rachedi
Investment Manager
Graduated from ESCP Europe with a Masters in Management, Double Major in Finance and Economics. He worked as an intern in several financial institutions, in mergers and acquisitions and asset management before joining Ruffer in 2012. He is a CFA charterholder.
Ian_Rees
Ian Rees
Investment Manager
Joined Ruffer in May 2012 after graduating from the University of Bath with an honours degree in economics. He previously completed a twelve month placement at UBS Global Asset Management. He spent 2017 in Ruffer’s Hong Kong office working as an equity analyst, and is a CFA charterholder.
Orlando_Roberts
Orlando Roberts
Investment Manager
Graduated from University College London before serving in the British Army for five years. He joined Ruffer in 2011 and became a member of the Chartered Institute for Securities & Investment in 2014.
Tom_Saville
Tom Saville
Investment Manager
Joined Ruffer in 2013. He graduated from University College London in 2009 and completed the graduate training programme at Brooks Macdonald Asset Management. Tom is a Chartered Financial Analyst and member of the Chartered Institute for Securities & Investment.
Anthony_Snowden
Anthony Snowden
Investment Manager
Joined Ruffer in September 2010 having previously worked for Barclays Wealth. He graduated from the University of Nottingham with a degree in Economics. He became a member of the Chartered Institute of Securities & Investment following completion of the CISI Masters in Wealth Management in 2012.
Samantha_Stiefel-Sevitt
Samantha Stiefel–Sevitt
Investment Manager
Before joining Ruffer in 2014, she worked as a private banker at Barclays, Wealth and Investment Management. She graduated from the University of Nottingham in 2009 with an honours degree in finance, accounting and management and is a CFA charterholder.
Emma_Varley
Emma Varley
Investment Manager
Joined Ruffer in 2012 after graduating from St Andrews University with a first class honours degree in History. She is a member of the Chartered Institute for Securities & Investment following completion of the CISI Masters in Wealth Management.
Clemmie_Vaughan
Clemmie Vaughan
Chief Executive Officer
Joined Ruffer in 2005 and manages investment portfolios for individuals, trusts, charities, and pension funds. She is a Governor of St Mary’s Ascot. She completed the Advanced Management Program at IESE in Barcelona in 2017 and holds an honours degree in economics and geography from Exeter University. She became Chief Executive in April 2017.
Hamish_Baillie
Hamish Baillie
Investment Director
Joined Ruffer in 2002. He founded and manages the Edinburgh office of Ruffer LLP which opened in September 2009 and is a director of Ruffer (Channel Islands) Limited. He manages investment portfolios for individuals, trusts, charities and pension funds and is the lead manager of the Ruffer Investment Company, which is listed on the London Stock Exchange. He is a member of the Chartered Institute for Securities & Investment and a graduate of Trinity College Dublin.
David_Ballance
David Ballance
Investment Director
Previously International Equities Head at Rothschild Private Management and European Equities Head at Rothschild Asset Management. He graduated from Oxford and was a Senior Investment Manager at Allied Dunbar, before moving to Threadneedle as Head of European Equities. He joined Ruffer in 2006 and manages a number of segregated portfolios for institutional and private clients.
David_Benson
David Benson
Investment Director
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+44 (0)20 7963 8204
After graduating from Oxford University, he worked at Phillips & Drew Fund Management (1991–1999), predominantly managing UK equity portfolios for pension funds. A consultant for McKinsey & Company from 1999, he joined Deutsche Asset Management in 2004. In 2005, worked as a fund manager at Société Générale, focusing on pooled UK equity and multi–asset portfolios for UK institutions and retail investors. He joined Ruffer in 2010.
Benjamin_Boucher-Ferte
Benjamin Boucher–Ferté
Investment Director
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+44 (0)20 7963 8179
Graduated from ESCP Europe in 1999 and joined the Private Wealth Management group of Goldman Sachs in London after completing his National Service with Renault Financial Services. In 2004, he participated in the launch of Fulcrum Asset Management where he was a Director until 2010, when he joined Ruffer.
Peter_Carew
Peter Carew
Investment Director
Previously portfolio manager and Head of Private Clients with Credit Suisse UK Ltd, having been a Divisional Director with Carr Sheppard Crosthwaite. Prior to his career in the City, he was in the Army. He holds an MBA from London Business School and he joined Ruffer in 2002.
Alexander_Chartres
Alexander Chartres
Investment Director
Joined Ruffer in 2010 after graduating from Newcastle University with a first class honours degree in history and politics. Alex worked closely with Clemmie Vaughan and Jonathan Ruffer for six years. In 2012, he became a member of the Chartered Institute for Securities & Investment, achieving a merit in the Private Client Advice and Management paper. He specialises in geopolitics and its investment implications, with a particular focus on European and Great Power politics. He is a co-manager of the LF Ruffer Total Return Fund.
Bertie_Dannatt
Bertie Dannatt
Investment Director
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+44 (0)20 7963 8226
Joined Ruffer as a graduate trainee in 2008, following five years in the British Army. A University of Durham graduate, he qualified as a member of the Chartered Institute for Securities & Investments (CISI) in 2010 and became an Investment Director in 2015.
Hermione_Davies
Hermione Davies
Investment Director
Previously Managing Director of Bessemer Group (UK) Limited, she was Chief Investment Officer of the group’s non–US investments. She graduated from Oxford and started her career at NatWest Bank prior to becoming a Fund Manager of a Japanese–Pacific Unit Trust at Guinness Mahon & Co Ltd. She joined Ruffer in 2009.
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Lauren French
Investment Director
After graduating from Oxford University she worked at JO Hambro Capital Management, assisting with the transition of James Hambro & Partners LLP. Joined Ruffer in 2010 and became a member of the Chartered Institute of Securities & Investment following completion of the CISI Masters in Wealth Management in 2012, receiving a merit in the Applied Wealth Management paper.
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Luka Gakic
Investment Director
Before joining Ruffer in 2011, he spent four years at Lehman Brothers, and then Nomura, where he worked in equity financing and delta–one sales. He graduated from Oxford University in 2006 with a degree in Philosophy, Politics and Economics.
Franziska_Jahn-Madell
Franziska Jahn–Madell
Director, Responsible Investment
Joined Ruffer in 2014 after working for ten years at EIRIS, a research provider for environmental, social and governance performance, in several positions. Her last role as a Principal Research Analyst at EIRIS mainly focussed on Corporate Governance issues and criteria development. From 1999–2003 she worked at the Moral Theology department at Frankfurt University for the Business Ethics Chair. In 2003 she graduated from Frankfurt University with a MA (distinction) in Theology and a MA (distinction) in Literature.
Omar_Kodmani
Omar Kodmani
Investment Director
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+44 (0)20 7963 8183
Joined Ruffer in 2019 from EnTrust Permal, a specialist in alternative investments. He originally joined what was the Permal Group in 2000 and held a number of roles there including Chief Executive, and Head of International. He holds a BA in economics from Columbia University, an MBA Finance from NYU-Stern, and is a CFA charterholder.
Alex_Lennard
Alex Lennard
Investment Director
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+44 (0)20 7963 8103
Joined Ruffer in 2006 after graduating from Exeter University with an honours degree in economics and finance; he is a member of the Chartered Institute for Securities & Investment. He initially worked as assistant to Jonathan Ruffer and now manages investment portfolios, concentrating on family offices and corporate pension schemes. He is co–manager of Ruffer Total Return International.
Charles_Lynne
Charles Lynne
Investment Director
Joined Ruffer in 2008 after three and a half years at Morgan Stanley Investment Management, including a placement in Asia. He graduated from Durham University with first class honours in Natural Sciences and became a member of the Chartered Institute for Securities & Investment following completion of the CISI Masters in Wealth Management, receiving a distinction in the Applied Wealth Management paper. He became a Chartered Fellow of the CISI in 2015.
Duncan_Macinnes
Duncan MacInnes
Investment Director
Joined Ruffer in 2012. He graduated from Glasgow University School of Law in 2007 and spent four years working at Barclays Wealth and Barclays Capital in Glasgow, London and Singapore. Duncan is a CFA charterholder. He is co–manager of Ruffer Investment Company.
Annabel_Mackenzie
Annabel Mackenzie
Investment Director
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+44 (0)20 7963 8108
Worked at F&C Asset Management after graduating from the University of Edinburgh in 2003, with an honours degree in economics. She joined Ruffer in 2006 and became a member of the Chartered Institute for Securities & Investment in 2007, following the completion of her CISI Diploma.
Sean_McCreery
Sean McCreery
Investment Director
Joined Ruffer in 1999. Manages a broad range of private client, trust, pension, charity, and OEIC portfolios. Previously worked at Duncan Lawrie Private Bank. Prior to that, was part of the institutional team at Cornhill Insurance, having started his investment career at UK Provident. He is a Chartered member of the CISI.
Lucie_Meagher
Lucie Meagher
Investment Director
Joined Ruffer in 2006 after graduating from Exeter University with a BSc (Hons) in Mathematics. She became a member of the Chartered Institute for Securities & Investment (CISI) in 2009, following the completion of a Diploma in Investment Compliance and the CISI Diploma, receiving a credit in the Private Client Advice and Management Paper.
David Moos
David Moos
Investment Director, Paris
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+33 1 88 45 02 52
Joined Ruffer in 2019 from Finalpha, where he was the co-founder. He has 18 years of experience acting as the liaison between portfolio managers and French and Italian investors. His previous roles include IT Asset Management, Crédit Agricole and Banque de l’Union Européenne.
Phil_Morris
Phil Morris
Investment Director
Graduated from Cambridge University then trained as a Chartered Accountant. He then managed his family’s farming business before moving into private client investment management with Barclays de Zoete Wedd Portfolio Management (which became Barclays Private Bank), latterly as Chief Investment Officer. He joined Ruffer in 2005.
Jos_North
Jos North
Investment Director
Joined Ruffer in 2012, having graduated from Edinburgh University with an MA Honours in French and Spanish. He became a member of the Chartered Institute of Securities & Investment following completion of the CISI Diploma, receiving the highest mark in that year. He manages portfolios predominantly for institutional clients and is co-manager of the LF Ruffer Absolute Return Fund.
Dominic_Pearson
Dominic Pearson
Investment Director
A graduate of Manchester University, he was previously at NCL Smith & Williamson for nine years as a research analyst, investment manager and, subsequently, director. He joined Ruffer in 2004 and manages approximately £500m across a variety of client types including private clients, charities, institutional, pensions and private OEICs. He is a Fellow of the Chartered Institute for Securities & Investment.
Oliver_Pile
Oliver Pile
Investment Director
Joined Ruffer in 2009 after three years at Gillespie Macandrew as a trainee investment manager. Graduated from Northumbria University in 2006 with an honours degree in Business Studies. He also worked for State Street and is a member of the Chartered Institute for Securities & Investment.
Christopher_Querée
Christopher Querée
Investment Director
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+44 (0)20 7963 8110
Previously Director at Le Masurier, James & Chinn, now absorbed within the HSBC Group. He spent thirteen years there, with responsibility for offshore private clients, moving to Chiswell Associates in 2001 to focus on charity fund management, before joining Ruffer in 2004 to help develop the firm’s charity business. He holds an MBA from Henley Management College and is co-manager of Ruffer’s Common Investment Fund, the Charity Assets Trust.
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Sabine Remnant
Investment Director
Joined Ruffer in 2005 after graduating from Bristol University. She became a member of the Chartered Institute for Securities & Investments in 2009 following the completion of her CISI Diploma, with a credit in the Private Client Advice and Management Paper.
Jenny_Renton
Jenny Renton
Investment Director
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+44 (0)20 7963 8287
Joined Ruffer in 2013. After reading politics at Newcastle University, she worked with oil and gas companies on their corporate and financial strategies before joining the fund team at Ingenious Investments. She is a CFA charterholder and co-manager of Ruffer’s Common Investment Fund, the Charity Assets Trust.
Emma_Rutter
Emma Rutter
Investment Director
Joined Ruffer in 2001 after graduating from Edinburgh University with an honours degree in economics and business studies. She is a member of the Chartered Institute for Securities & Investment, following the completion of her CISI Diploma in 2004.
Steve_Russell
Steve Russell
Investment Director
Graduated from Oxford in Philosophy, Politics and Economics and started work as an equity analyst at Confederation Life in 1987, where he became Head of Equities in charge of £5 billion of equity funds. In 1999 he moved to HSBC Investment Bank as Head of UK and European Equity Strategy, before joining Ruffer in 2003. He became a non–executive director of JPMorgan Fleming Continental Investment Trust in 2005 and is co–manager of the LF Ruffer Total Return Fund.
Harry_Sevier
Harry Sevier
Investment Director
Joined Ruffer in 2008 after graduating with an MA Honours degree from Edinburgh University. He became a member of the Chartered Institute for Securities & Investment on completing the CISI Diploma in 2010, receiving an Outstanding Achievement Award and a merit in the Private Client Advice and Management Paper. He manages investment portfolios for individuals, trusts and charities.
Matt_Smith
Matt Smith
Investment Director
Joined Ruffer in 2011 after graduating from Edinburgh University with a first class honours degree in history and German. He spent 2015 seconded to Ruffer’s Hong Kong office as an equity analyst, and is a fellow of the Chartered Institute for Securities & Investment, having achieved a distinction in the Financial Derivatives paper. He primarily manages portfolios for pension schemes and institutions and co-manages the LF Ruffer Total Return Fund.
Kevin_Smith
Kevin Smith
Investment Director
Joined Ruffer in 2005 after moving to the UK from South Africa, where he briefly worked in the private wealth division of a big four bank. He has an honours degree in finance and is a member of the Chartered Institute for Securities & Investment, following the completion of his CISI Diploma in 2008.
Alice_Brader
Alice Brader-Ellis
Investment Manager
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+44 (0)20 7963 8270
Graduated in 2002 from Durham University with a BA (Hons) in Chinese and Management, and began her career with Bloomberg in London and Hong Kong. In 2007, while still in Hong Kong, she joined JPMorgan Asset Management, and in 2014 transferred back to London with JPMorgan Private Bank as part of the International Manager Selection team. She joined Ruffer in 2017.
Laetitia_East
Laetitia East
Investment Manager
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+44 (0)20 7963 8299
Graduated from Oxford University with a degree in Modern History. She is a member of the Chartered Institute for Securities and Investment, having completed the CISI Masters in Wealth Management, receiving a distinction in the Private Client Investment Advice and Management paper. She joined Ruffer in 2012.
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Sophie Burke-Murphy
Investment Manager
Joined Ruffer in 2012. Previously at Global Asset Management (GAM) for five years as a Junior Analyst and then as a Portfolio Manager’s Assistant. A graduate of Bristol University, she is a qualified Chartered Alternative Investment Analyst and completed the CISI Private Client Investment Advice and Management Paper in 2012.
Edward_Donati
Edward Donati
Investment Manager
Worked at the BBC after graduating from Oxford University in 2007. He joined Ruffer in 2009 and spent four years as an equity analyst in Ruffer’s research team, including a period in Ruffer’s Hong Kong office, before returning to London to manage investment portfolios. He is a Chartered Wealth Manager.
Julien Galichet
Julien Galichet
Investment Manager, Paris
Previously at Finalpha, he joined Ruffer in 2019. Other roles include co-founding DG Patrimoine, a real-estate asset management company where he managed investments for high net worth individuals. Prior to that he held various positions at IT Asset Management, Deutsche Bank and IFS (Dublin).
Rory_Goodman
Rory Goodman
Investment Manager
Joined Ruffer in 2014 having graduated from Durham University with a first class honours degree in Economics. He is a member of the CISI and a Chartered Wealth Manager, having achieved a merit in both the Applied Wealth Management and Portfolio Construction Theory papers.
Thomas_Hardy
Thomas Hardy
Investment Manager
Joined Ruffer in 2010 after graduating from Bristol University in 2009 with a degree in history. In 2013 he became a member of the Chartered Institute for Securities & Investments, following the completion of his CISI Diploma, receiving a merit in the financial markets paper. He spent 2015 working as an equity analyst in Ruffer’s Hong Kong office.
Rachel Holdsworth
Rachel Holdsworth
Investment Manager
Joined Ruffer in 2013 after graduating from Oxford University with a first class honours degree in biological sciences. She is a member of the Chartered Institute for Securities & Investment following completion of the CISI Masters in Wealth Management, receiving a distinction in both the Private Client Investment Advice and Management and Portfolio Construction Theory papers.
Ajay_Johal
Ajay Johal
Investment Manager
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+44 (0)20 7963 8040
Graduated from the University of Warwick with a degree in history and sociology and worked at Barclays Wealth before joining Ruffer in 2014. In 2019, he worked as an equity analyst in Ruffer’s Hong Kong office, before returning to the charities team in London as an Investment Manager. He is a member of the Chartered Institute of Securities & Investment.
Celine_Matuszewski
Céline Matuszewski
Investment Manager
After a Master’s degree in Economic Sciences at Panthéon–Assas University and Postgraduate studies in Wealth Management, she became a bond portfolio manager for Banque Transatlantique in Luxembourg, before moving to HSBC in France. She held several positions during her 12 year tenure, including looking after some of the wealthiest French families, and was ultimately a product specialist in the Wealth Management Group. Joined Ruffer in 2013.
Alexia_Palacios
Alexia Palacios
Analyst, Responsible Investment
Joined Ruffer in 2014 after graduating from the University of Cambridge with first class honours in land economy. Having gained experience in responsible investment while working with Ruffer’s charity team, she has specialised in this area since 2018. She has completed the PRI Academy Responsible Investment Essentials and Enhanced Financial Analysis courses and is a CFA charterholder.
Othmane_Rachedi
Othmane Rachedi
Investment Manager
Graduated from ESCP Europe with a Masters in Management, Double Major in Finance and Economics. He worked as an intern in several financial institutions, in mergers and acquisitions and asset management before joining Ruffer in 2012. He is a CFA charterholder.
Ian_Rees
Ian Rees
Investment Manager
Joined Ruffer in May 2012 after graduating from the University of Bath with an honours degree in economics. He previously completed a twelve month placement at UBS Global Asset Management. He spent 2017 in Ruffer’s Hong Kong office working as an equity analyst, and is a CFA charterholder.
Orlando_Roberts
Orlando Roberts
Investment Manager
Graduated from University College London before serving in the British Army for five years. He joined Ruffer in 2011 and became a member of the Chartered Institute for Securities & Investment in 2014.
Tom_Saville
Tom Saville
Investment Manager
Joined Ruffer in 2013. He graduated from University College London in 2009 and completed the graduate training programme at Brooks Macdonald Asset Management. Tom is a Chartered Financial Analyst and member of the Chartered Institute for Securities & Investment.
Anthony_Snowden
Anthony Snowden
Investment Manager
Joined Ruffer in September 2010 having previously worked for Barclays Wealth. He graduated from the University of Nottingham with a degree in Economics. He became a member of the Chartered Institute of Securities & Investment following completion of the CISI Masters in Wealth Management in 2012.
Samantha_Stiefel-Sevitt
Samantha Stiefel–Sevitt
Investment Manager
Before joining Ruffer in 2014, she worked as a private banker at Barclays, Wealth and Investment Management. She graduated from the University of Nottingham in 2009 with an honours degree in finance, accounting and management and is a CFA charterholder.
Emma_Varley
Emma Varley
Investment Manager
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+44 (0)20 7963 8069
Joined Ruffer in 2012 after graduating from St Andrews University with a first class honours degree in History. She is a member of the Chartered Institute for Securities & Investment following completion of the CISI Masters in Wealth Management.
Toby_Barklem
Toby Barklem
Business Development Director
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+44 (0)20 7963 8127
Joined Ruffer in 2017, having spent five years at Standard Life Aberdeen in a variety of business development roles focused on financial advisers. He studied history, initially graduating from Exeter University in 2003 and then latterly Imperial College London. Following this he spent seven years as an officer in the British Army.
Alexander_Bruce
Alexander Bruce
Fund Relations Manager
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+44 (0)20 7963 8104
Graduated from the University of Newcastle upon Tyne with a degree in English Literature. Joined Ruffer in 2003. He has worked in product management and investor communications and became a Fund Relations Manager in 2017.
Joshua_Gunson
Joshua Gunson
Business Development Manager
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+44 (0)20 7963 8254
Joined Ruffer in 2010, working in the Product and Fund Relations teams. He holds a degree in philosophy from the University of Nottingham and an MBA with distinction from Cass Business School, and focuses on building relationships with financial planners and wealth managers throughout the UK.
Henry_Maxey
Henry Maxey
Chief Investment Officer
Joined Ruffer in 1998 after graduating from Oxford University with a first class honours degree in economics and management. He became a CFA charterholder in 2003. He managed the LF Ruffer Total Return Fund and LF Ruffer Equity & General Fund between 2001 and 2006. He joined the Executive Committee in 2006 and became Chief Investment Officer in 2010. Between 2012 and 2017 he combined this role with that of Chief Executive. Following the company’s growth, he relinquished the CEO role in April 2017 to focus on leading Ruffer’s investment strategy.
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Miranda Best
Research Director
Joined Ruffer in 2005 after graduating from Durham University with a first class honours degree in economics. She became a CFA charterholder in 2009. She has managed the Ruffer illiquid strategies funds since 2011 and became head of the specialist funds in 2016. She joined the Management Board in June 2017.
Rushir_Asnani
Ruchir Asnani
Research Director
Previous work includes six years as an auditor with Deloitte and PriceWaterhouseCoopers, an accounting–based pan–European role in equity research at CFRA/Risk Metrics and two years as a research analyst at AKO Capital. He graduated with a Masters in Business from Oxford University in 2007 and joined Ruffer in 2012.
Marnoch_Aston
Marnoch Aston
Research Director
Joined the Financial Stability Directorate at the Bank of England in 2008, prior to which he was a founding partner of Clematis Capital. He has an MSc in Economics and Finance from Warwick University and joined Ruffer in 2012.
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Alex Barnett
Research Director
Joined Ruffer in 2013, after spending 12 years on the sell side. Began his investment career in Canada in 2000 focusing on healthcare, before moving in 2005 to Jefferies International in Paris, researching pan–European small/mid caps, and then industrials. He is a CFA charterholder.
Des_Brennan
Des Brennan
Research Director
A graduate of City University Business School he worked as an equity research analyst at Sun Life of Canada and ICI Investment Management before joining Clerical Medical Investment Group in 1995. In 2006 he moved to Thornhill Investment Management and joined Ruffer in 2011 to launch the Ruffer UK Mid and Small Companies Fund.
Jamie_Dannhauser
Jamie Dannhauser
Economist
Prior to joining Ruffer in 2014, he spent seven years as a senior economist at Lombard Street Research, an independent macroeconomic research consultancy, with a specific focus on the UK, US and eurozone economies. He graduated from the University of Cambridge in 2006 with a first class honours degree in Economics. He is currently a member of the IEA’s Shadow Monetary Policy Committee.
Jon_Dye
Jon Dye
Head of Research
Prior to joining Ruffer in 2010, undertook accounting–based pan–European equity research at CFRA/Risk Metrics. Previous roles included Investment Analyst at Dye Asset Management and Newton Asset Management. He has a first class honours degree in government and economics from the London School of Economics and is a CFA charterholder.
Richard_Edwards
Richard Edwards
Head of Dealing
Joined the IT team at Phillips & Drew in 1996. He worked with Dye Asset Management, a hedge fund start up, in 2000, where he covered a number of roles before concentrating on dealing. After moving to Ecofin in 2007, he joined Ruffer in 2010 as Senior Dealer. He progressed to Head of Dealing in 2012.
Alex_Grispos
Alex Grispos
Investment Director
Graduated from Imperial College with a first class degree in mechanical engineering. He started in equity research in 1998 at Alpha Trust in Greece and then worked in venture capital for six years. He then joined Top Technology Ventures in the UK, and subsequently became Investment Manager with RTF based in London and St Petersburg, Russia. He joined Ruffer in 2005 and manages the LF Ruffer Equity and General Fund.
James_Heal
James Heal
Research Director
Worked at Lehman Brothers from 2005 to 2007, where he was Executive Director of the Long Term Value proprietary fund. His previous roles include Head of Technology Research at Commerzbank Securities and Director of Regional Asian Technology Research at Indosuez WI Carr Securities in Singapore. He joined Ruffer in 2008.
Jacques_Hirsch
Jacques Hirsch
Research Director
Prior to joining Ruffer in 2011, he spent over ten years in fund management and macro research at firms including Goldman Sachs, GLG Partners and Fulcrum Asset Management. He graduated from École Centrale Paris in 1999, and holds an MSc in Mathematics from Oxford University. He is co–manager of Ruffer Total Return International.
Paul_Kennedy
Paul Kennedy
Research Director
Joined Ruffer in 2012 from L.E.K. Consulting. He holds a degree in Jurisprudence from Oxford University and an MBA with Distinction from London Business School. He has many years of experience evaluating investments across industry sectors and has managed the LF Ruffer Gold Fund since February 2015.
Mary_McBain
Mary McBain
Investment Director (Asia)
After graduating from Oxford University in 1985, started work at Invesco MIM as a fund manager on the Asian team. After leaving Invesco in 1990, she spent many years living and working in Asia, for GK Goh Securities, Apollo Investment Management and Ballingal Investment Advisors. She joined Ruffer in 2006 and manages the LF Ruffer Pacific Fund.
Simon_Mountain
Simon Mountain
Research Director
Previously at Bain & Company, having gained ten years’ experience as a strategy consultant. Started his career in PwC Transaction Services advising on European private equity deals. Graduated from University of Cambridge with a Master’s degree in Manufacturing Engineering. He joined the LF Ruffer European Fund team in 2013, becoming co–manager in 2016.
Kentaro_Nishida
Kentaro Nishida
Investment Director (Japan)
After obtaining a BEcon in Japan and studying Russian in Moscow he worked as an interpreter in both Russia and the UK. He moved into equity sales in 1988 for James Capel & Company Limited and then SG Warburg Securities in 1989. He joined Ruffer in 2008 to concentrate on Japanese equities and manages the LF Ruffer Japanese Fund.
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Claire Titmarsh
Research Director
Joined Ruffer in 2005 after graduating with a first class honours degree in economics and finance from the University of York. She joined the LF Ruffer European Fund team in 2011, becoming co–manager in 2016.
Andrew_vanBiljon
Andrew van Biljon
Research Director
Joined Ruffer’s institutional client team in 2010 following the completion of his MPhil in economics at Oxford. He moved to the Research team in 2011 to assist with macroeconomic analysis and derivative strategies.
James_Verdier
James Verdier
Research Director
Graduated from the London School of Economics, then qualified as a Chartered Accountant. He joined Commerzbank as a telecoms analyst in 1999 and subsequently worked on the Special Situations trading desk. In 2005 he joined Lehman Brothers where he worked on the Long Term Value proprietary fund. He joined Ruffer in 2008.
Trevor_Wild
Trevor Wild
Research Director
Worked for BZW from 1983, where he led a number of successful research teams, joining Commerzbank in 1999 to begin his career as a Portfolio Manager. In 2005 moved to Lehman Brothers as Managing Director of the Long Term Value Fund. He joined Ruffer in 2008 and is manager of the Ruffer UK Mid and Small Companies Fund.
Sahil Gaba
Sahil Gaba
Research Analyst
Joined Ruffer in 2007 after receiving his MBA from the Said Business School (Oxford University). Prior to that, he briefly worked in India as a technology consultant at Headstrong Corp. He is a graduate of the Indian Institute of Technology Delhi, where he studied mechanical engineering.
Myles_Marmion
Myles Marmion
Chief Financial Officer
Worked at ED&F Man Holdings where he was Group Chief Financial Officer and previously Head of Corporate Finance and Risk. Myles started his career at Ernst & Young and then worked for Robert Fleming Holdings Limited and Maple Financial Group. He joined Ruffer in 2009.
Paula_Walter
Paula Walter
Chief Operating Officer
Joined Ruffer in 2016 from Newton Investment Management, where she was the Chief Technology Officer. She began her career in the technology division of Goldman Sachs in 2000, supporting the equities and investment management divisions. An alumna of the Universities of Cape Town and Oxford, she holds honours degrees in mathematics and linguistics and a DPhil in linguistics.
Edwina_Blackford
Edwina Blackford
Governance Director
Joined Ruffer in 2012 having spent several years working in the financial services industry, principally for Loudwater Investment Partners, a pre–IPO private equity investment business, and Panmure Gordon, an AIM listed stockbroker.
Nick_Horder
Nick Horder
Operations Director
Graduate of Leeds University, spent several years within the control department of the investment bank West LB AG in London, Sydney and Tokyo. He became a member of the Chartered Institute for Securities & Investment in 2005 following the completion of his CISI Diploma. He joined Ruffer in 2003.
Justine_McMullan
Justine McMullan
Product Director
Joined Ruffer in 2005, taking on various responsibilities within the Operations and Business Projects departments. She became a Product Manager in 2013. Previous work includes roles at West LB AG (London), Citigroup and Société Générale (Sydney, Australia).
Simon_Martin
Simon Martin
General Counsel
Graduated from Cambridge University then trained as a lawyer at Norton Rose. After three years at Clerical Medical, he joined Gartmore where he spent nine years, latterly as General Counsel for its operations outside the US. He joined Ruffer in 2007.
Philipp_Mitterbauer
Philipp Mitterbauer
Head of Tax
Joined Ruffer in 2009 after having worked at law and accountancy firms in the private client tax sector. He graduated in Law from Regensburg University in 2003, and trained as a lawyer in Germany where he qualified as ‘Rechtsanwalt’ in 2006. He holds an LLM in International Business Law from Exeter University, and is a member of the Association of Taxation Technicians. He sits on various working groups at HMRC where he represents the Personal Investment Management and Financial Advice Association (PIMFA).
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Emma Potter
Facilities Director
Graduated from Royal Holloway University before joining Ruffer in 2004. She became a Member of the British Institute of Facilities Management in 2011 and is Secretary for the Committee of the Catering and Hospitality Special Interest Group. She is Chair of the Victoria Partnership’s Sustainable Prosperity steering group which deals with corporate and social responsibility issues for the local community.
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Victoria Powell
Regulatory Policy Director
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Cecile Rousseau
Technology Director
Joined Ruffer in 2017, after ten years in various global technology roles at JPMorgan Asset Management. Prior to this, she worked at Accenture as a senior manager for multiple financial services clients. She graduated from ICN, Nancy University in France and holds a MBA from Aston University.
Louise_Stanway
Louise Stanway
Compliance Officer
Joined Ruffer in 1999 after graduating with an honours degree in accountancy and law and became Ruffer’s Compliance Officer in 2007. During 2004, she spent seven months seconded to the Personal Investment Management and Financial Advice Association (PIMFA, formerly WMA). Louise has been a Director of the Joint Money Laundering Steering Group since 2004 and was appointed as its Chairman on 1 July 2016. She has also chaired the PIMFA Financial Crime Committee since 2007.
Gillian_vanMaaren
Gillian van Maaren
Head of HR
Previously Global Head of HR at CQS, prior to which she worked in HR at Jupiter Asset Management. Gillian has a wealth of HR experience with roles in asset management, energy and property. She joined Ruffer in 2019.
Russell_Vickers
Russell Vickers
Head of Risk, Performance & Reporting
Prior to joining Ruffer in 2010, he worked at GLG Partners as the new business and transitions manager. He brought with him 15 years of operational experience spanning a variety of middle and front office support functions at Prudential Portfolio Managers, Merrill Lynch, BNYM and Société Générale.
Hamish_Baillie
Hamish Baillie
Investment Director
Joined Ruffer in 2002. He founded and manages the Edinburgh office of Ruffer LLP which opened in September 2009 and is a director of Ruffer (Channel Islands) Limited. He manages investment portfolios for individuals, trusts, charities and pension funds and is the lead manager of the Ruffer Investment Company, which is listed on the London Stock Exchange. He is a member of the Chartered Institute for Securities & Investment and a graduate of Trinity College Dublin.
Duncan_Macinnes
Duncan MacInnes
Investment Director
Joined Ruffer in 2012. He graduated from Glasgow University School of Law in 2007 and spent four years working at Barclays Wealth and Barclays Capital in Glasgow, London and Singapore. Duncan is a CFA charterholder. He is co–manager of Ruffer Investment Company.
Oliver_Pile
Oliver Pile
Investment Director
Joined Ruffer in 2009 after three years at Gillespie Macandrew as a trainee investment manager. Graduated from Northumbria University in 2006 with an honours degree in Business Studies. He also worked for State Street and is a member of the Chartered Institute for Securities & Investment.
Mary_McBain
Mary McBain
Investment Director (Asia)
After graduating from Oxford University in 1985, started work at Invesco MIM as a fund manager on the Asian team. After leaving Invesco in 1990, she spent many years living and working in Asia, for GK Goh Securities, Apollo Investment Management and Ballingal Investment Advisors. She joined Ruffer in 2006 and manages the LF Ruffer Pacific Fund.
David Moos
David Moos
Investment Director, Paris
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+33 1 88 45 02 52
Joined Ruffer in 2019 from Finalpha, where he was the co-founder. He has 18 years of experience acting as the liaison between portfolio managers and French and Italian investors. His previous roles include IT Asset Management, Crédit Agricole and Banque de l’Union Européenne.
Julien Galichet
Julien Galichet
Investment Manager, Paris
Previously at Finalpha, he joined Ruffer in 2019. Other roles include co-founding DG Patrimoine, a real-estate asset management company where he managed investments for high net worth individuals. Prior to that he held various positions at IT Asset Management, Deutsche Bank and IFS (Dublin).
Bertie_Dannatt
Bertie Dannatt
Investment Director
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+44 (0)20 7963 8226
Joined Ruffer as a graduate trainee in 2008, following five years in the British Army. A University of Durham graduate, he qualified as a member of the Chartered Institute for Securities & Investments (CISI) in 2010 and became an Investment Director in 2015.
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Lauren French
Investment Director
After graduating from Oxford University she worked at JO Hambro Capital Management, assisting with the transition of James Hambro & Partners LLP. Joined Ruffer in 2010 and became a member of the Chartered Institute of Securities & Investment following completion of the CISI Masters in Wealth Management in 2012, receiving a merit in the Applied Wealth Management paper.
Laetitia_East
Laetitia East
Investment Manager
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+44 (0)20 7963 8299
Graduated from Oxford University with a degree in Modern History. She is a member of the Chartered Institute for Securities and Investment, having completed the CISI Masters in Wealth Management, receiving a distinction in the Private Client Investment Advice and Management paper. She joined Ruffer in 2012.
Jonathan_Ruffer
Jonathan Ruffer
Chairman
Trained as a stockbroker and barrister before moving into private client investment management in 1980, with Dunbar Fund Managers. Formerly Chief Investment Officer of Rathbone Bros plc. He established Ruffer Investment Management Limited in 1994, which transferred its investment business to Ruffer LLP in 2004.
Robin Hindle Fisher
Robin Hindle Fisher
Deputy Chairman
Spent over twenty five years in institutional fund management at leading firms including Henderson, where he led the pension fund business and was on the PLC board, and Phillips & Drew Fund Management, where he was ultimately CEO. Robin is a Durham graduate and a Sloan Fellow at London Business School. He now works as a business coach and executive mentor and is a partner at Hay Hill Partners LLP.
Clemmie_Vaughan
Clemmie Vaughan
Chief Executive Officer
Joined Ruffer in 2005 and manages investment portfolios for individuals, trusts, charities, and pension funds. She is a Governor of St Mary’s Ascot. She completed the Advanced Management Program at IESE in Barcelona in 2017 and holds an honours degree in economics and geography from Exeter University. She became Chief Executive in April 2017.
Henry_Maxey
Henry Maxey
Chief Investment Officer
Joined Ruffer in 1998 after graduating from Oxford University with a first class honours degree in economics and management. He became a CFA charterholder in 2003. He managed the LF Ruffer Total Return Fund and LF Ruffer Equity & General Fund between 2001 and 2006. He joined the Executive Committee in 2006 and became Chief Investment Officer in 2010. Between 2012 and 2017 he combined this role with that of Chief Executive. Following the company’s growth, he relinquished the CEO role in April 2017 to focus on leading Ruffer’s investment strategy.
Myles_Marmion
Myles Marmion
Chief Financial Officer
Worked at ED&F Man Holdings where he was Group Chief Financial Officer and previously Head of Corporate Finance and Risk. Myles started his career at Ernst & Young and then worked for Robert Fleming Holdings Limited and Maple Financial Group. He joined Ruffer in 2009.
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Miranda Best
Research Director
Joined Ruffer in 2005 after graduating from Durham University with a first class honours degree in economics. She became a CFA charterholder in 2009. She has managed the Ruffer illiquid strategies funds since 2011 and became head of the specialist funds in 2016. She joined the Management Board in June 2017.
Paula_Walter
Paula Walter
Chief Operating Officer
Joined Ruffer in 2016 from Newton Investment Management, where she was the Chief Technology Officer. She began her career in the technology division of Goldman Sachs in 2000, supporting the equities and investment management divisions. An alumna of the Universities of Cape Town and Oxford, she holds honours degrees in mathematics and linguistics and a DPhil in linguistics.
Earl_Ferrers
Earl Ferrers
Non-Executive Director
Fellow of the Institute of Chartered Accountants. Trained at Ernst & Whinney, before working at BICC plc, Viking Property Group and Norseman Holdings Ltd. He joined Ruffer as one of its founders in 1994, retired as Managing Director in 2011 and returned as a Non–Executive Director in 2012. He has been a Director of the PIMFA (formerly WMA) since 2007 and was Chairman of the PIMFA Investment Firms’ Committee from 2005 to 2010.
Fleur Meijs
Fleur Meijs
Non-Executive Director
Former financial services partner at PwC, specialising in complex audits and high–profile advisory projects for financial institutions, mainly investment banks. Alongside her corporate non–executive directorships with Ruffer, Fidelity European Values plc and Invesco Asia Trust plc., she is active in the charity sector with United World Colleges (UWC). Fleur joined Ruffer’s Management Board in 2018.
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London
80 Victoria Street
London SW1E 5JL
Directions | Map +44 (0)20 7963 8100
Edinburgh
31 Charlotte Square
Edinburgh EH2 4ET
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Paris
103 boulevard Haussman
75008 Paris, France
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