All-weather investing

Seeking consistent positive returns.

Come rain or shine.

Ruffer provides investment management services for institutions, pension funds, charities, financial planners and individual investors.
All-weather investing
Select Location
UK
Europe
Australia
US
Asia
Middle East
Channel Islands
Rest of world
Type of Investor
Individual investors
Institutional
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Family office
Financial planner
Individual investors
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Charity
Wholesale
Retail
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Institutional
Institutional
All investors
All investors
London
80 Victoria Street
London SW1E 5JL
Edinburgh
31 Charlotte Square
Edinburgh EH2 4ET
Paris
103 boulevard Haussmann
75008 Paris, France

Our people

Photos and short biographies
Jonathan_Ruffer
Jonathan Ruffer
Chairman
Trained as a barrister and a stockbroker with Myers & Co in 1973 before moving into private client investment management in 1979, 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.
Campbell Fleming
Campbell Fleming
Deputy Chairman
Trained as a barrister in Australia before moving to the UK in 1995 and into the investment management industry in 1997, with Robert Fleming Asset Management (RFAM). Formerly Global Head of Distribution with Aberdeen Standard Investments, CEO of Columbia Threadneedle Investments and Head of UK for JPMorgan Asset Management after the merger of JPMorgan and Chase which had acquired RFAM. He also chairs The Big Exchange Limited and has served on various industry bodies and boards. Joined Ruffer’s Board and its sub-committees in July 2021.
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 Board and its sub-committees in 2018.
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Twembi Rukandema
Non-Executive Director
Twembi leads the banking practice at MindGym, a behavioural science consultancy that offers culture and behaviour change solutions. A trained economist, he started his career in the government economics service, before holding economics and strategy consulting roles at PwC and Oxford Economics. He joined the Board and its sub committees in April 2023.
Henry_Maxey
Henry Maxey
Co-CIO
Joined Ruffer in 1998 after graduating from the University of Oxford with a first class honours degree in economics and management. He became a CFA charterholder in 2003. Henry joined the Executive Committee in 2006 and became Chief Investment Officer in 2010. In 2012, he additionally became Chief Executive, a role he relinquished in 2017 to focus on leading Ruffer’s investment strategy.
Chris Bacon
Chris Bacon
Chief Executive
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. Chris is a Member of the Board and Executive Committee and became Chief Executive in January 2022.
Miranda Best
Miranda Best
Deputy CEO
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 began managing Ruffer's illiquid strategies in 2011, became Head of Specialist Funds in 2016, and Head of Investments in 2020. Miranda is a Member of the Board and Executive Committee and became deputy CEO in January 2022.
Luka Gakic
Luka Gakic
Head of Core Fund Management
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.
Omar Kodmani
Head of Clients & Distribution
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.
Katie Smith
General Counsel
Joined Ruffer in 2022 from Vanguard where she was European General Counsel. Prior roles include Managing Director and Global Head of Compliance for Deutsche Bank’s Asset Management division and Managing Director in the Legal team at BlackRock. She began her career at Clifford Chance LLP, is admitted as a solicitor in England and Wales, and a graduate of the University of Cambridge.
Simon Mountain
Chief Operating Officer
Joined Ruffer in 2013 from Bain & Company where he advised clients on strategic and operational issues. He holds a Master’s degree in manufacturing engineering from the University of Cambridge.
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Neil McLeish
Co-CIO
Joined Ruffer in 2022 after nearly 30 years at Morgan Stanley where he held roles in Research and Trading, latterly as Global Head of Macro Research. In 2021, he undertook the Sloan Fellowship at London Business School, graduating with Distinction. He became Co-Chief Investment Officer in 2023.
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.
Alex Barnett
Research Director
Joined Ruffer’s former Hong Kong office in 2013 and relocated to the London global equities research team in 2019. Previous roles included 12 years on the sell side in Canadian healthcare and with Jefferies International, Paris, researching pan-European small/mid caps and industrials. He is a CFA charterholder.
David_Benson
David Benson
Director – UK Institutional
After graduating from the University of Oxford, 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
Chief of Staff
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
Head of Europe
Graduated from ESCP Business School and joined the investment management division of Goldman Sachs, before participating in the launch of Fulcrum Asset Management where he was a Director until 2010, when he joined Ruffer. He leads the delivery of Ruffer’s investment strategy and service in Europe.
Martyn_Cane
Martyn Cane
Investment Operations Director
Prior to joining Ruffer in 2010, he held roles across a range of operational functions at HSBC, Pershing, Société Générale and GLG Partners.
Alexander Chartres
Fund Manager
Joined Ruffer in 2010 after graduating from Newcastle University with a first class honours degree in history and politics, and is a Fellow of the Chartered Institute for Securities & Investment. He specialises in geopolitics and is co-manager of two of Ruffer‘s flagship funds.
Martin Cullen
Finance Director
Joined Ruffer in 2019, after 13 years in corporate development and finance roles at the ED&F Man Group. Previous roles included Vice President in the Rates division of JPMorgan. He holds an MEng from the University of Oxford and an MBA from the Yale School of Management.
Bertie_Dannatt
Bertie Dannatt
Head of Private Wealth
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
Joined Ruffer in 2014, after seven years at Lombard Street Research. He is the firm’s economist and is responsible for shaping, and at times challenging, its macro and thematic views. He graduated from the University of Cambridge with a first class honours degree in economics. He is currently a member of the IEA’s Shadow Monetary Policy Committee.
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Teun Draaisma
Head of Investment Strategy
Joined Ruffer in April 2023 from Man Group, where he was the lead portfolio manager of the multi-asset funds. Previous roles included BlackRock, Morgan Stanley and TT International as a fund manager, asset allocator and equity strategist. He holds a Master’s degree in econometrics from Erasmus University Rotterdam.
Jon_Dye
Jon Dye
Research Director
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.
Laetitia East
Director – US Institutional | Ruffer LLC registered representative
Joined Ruffer in 2012 after graduating with a degree in modern history from the University of Oxford. She became a member of the CISI in 2014 following completion of the CISI Diploma. Previously an investment manager, Laetitia helped establish Ruffer’s US business in 2019. She is based in Ruffer’s New York office and responsible for Ruffer’s US institutional business development. She holds Series 7 and 63.
Richard_Edwards
Richard Edwards
Head of Dealing
Joined Ruffer in 2010 to establish the centralised dealing team, having spent the previous ten years in a variety of trading and execution roles at Ecofin and Dye Asset Management. Prior to this he worked in the technology team at UBS Phillips & Drew.
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James Fouracre
Director – UK Institutional
Joined Ruffer in 2022 to lead on the strategy and distribution across defined contribution pension schemes in the UK and Ireland. Previous roles include a range of senior distribution and strategy appointments at HSBC Global Asset Management, across the wholesale and institutional businesses at regional and global level.
Lauren French
Lauren French
Deputy Head of Private Wealth
After graduating from the University of Oxford, she worked at JO Hambro Capital Management. 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. She has been an Investment Director in the UK Wealth team since 2019.
Sahil Gaba
Sahil Gaba
Research Director
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.
Rory Goodman
Rory Goodman
Director – Private Wealth
Joined Ruffer in 2014, having graduated from Durham University with a first class honours degree in economics. He manages portfolios for UK and international private clients. He is a Chartered Fellow of the CISI and a Chartered Wealth Manager.
Tim Gordon
Director – UK Wholesale
Joined Ruffer in 2021 to develop UK wholesale distribution. He previously spent five years at Robeco developing their UK business and five years at SKAGEN as Head of UK Wholesale.
Alex_Grispos
Alex Grispos
Research 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 one of Ruffer’s specialist funds.
Joshua Gunson
Director – UK Wholesale
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
Director – Private Wealth
Joined Ruffer in 2010 after graduating from Bristol University with an honours 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 and is currently on the investment committee for a London livery company.
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Lucy Hodgson
Head of Legal
Joined Ruffer in 2015 from Simmons & Simmons, where she advised asset managers and hedge funds on a range of product and regulatory issues. She is admitted as a solicitor in England and Wales, holds a LLB from the University of Bristol and an MBA from BBP University Business School.
Rachel Holdsworth
Rachel Holdsworth
Director – Private Wealth
Joined Ruffer in 2013, having graduated from the University of Oxford with a BA Honours in biological sciences. She manages portfolios for private clients in the UK and Channel Islands. She is a fellow of the CISI, following completion of the CISI Masters in wealth management.
Alex Jamieson
Research Business Director
Joined Ruffer in 2012 as Risk and Attribution Manager, moving to Ruffer's mid and smaller companies team in 2014. Prior to this, he spent four years at F&C Investments and State Street. Holds a Masters degree in international financial analysis from Newcastle University. He is a CFA charterholder.
Ajay Johal
Director – UK Institutional
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 and is co-manager of Ruffer’s charity fund.
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 manages one of Ruffer's specialist funds.
Prachi Kodlikeri
Technology Director
Joined Ruffer in 2019, where she is responsible for managing Ruffer’s client-facing technology and cloud strategy and engineering. Prior to this, she spent 13 years in various global technology roles at Goldman Sachs. She has an MS in computer science from the State University of New York at Stony Brook.
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Chad Kutney
Director – US Institutional | Ruffer LLC registered representative
Joined Ruffer in 2022 with a focus on developing Ruffer’s US Institutional business. Most recently, he was a Director at Winton Group, a leading global investment management firm, serving as a Senior Client Advisor. Chad holds a BA in economics from Rutgers University.
Kate Law
Head of Client Operations
Previously at JM Finn, she joined Ruffer’s Operations team in 2010, moving to an investment team in 2013. In 2022, she returned to Operations and is responsible for Client Operations.
Alex_Lennard
Alex Lennard
Fund Manager
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 associate for Jonathan Ruffer and now manages institutional investment portfolios. He sits on the senior asset allocation committee and is co–manager of three of Ruffer’s flagship funds. He is also a Non-Executive Director of the JPMorgan European Investment Trust.
Charles_Lynne
Charles Lynne
Director – Private Wealth
Joined Ruffer in 2008 and manages investment portfolios for individuals and charities. Previously at Morgan Stanley Investment Management, including a placement in Asia. He holds a first class honours in natural sciences from Durham University and is a Chartered Fellow of the CISI.
Duncan_Macinnes
Duncan MacInnes
Fund Manager
Joined Ruffer in 2012. He graduated from the University of Glasgow School of Law in 2007 and spent four years working at Barclays in Glasgow, London and Singapore. He is a CFA charterholder and co-manager of two of Ruffer's flagship funds.
Annabel_Mackenzie
Annabel Mackenzie
Director – Private Wealth
Joined Ruffer in 2006, having graduated from the University of Edinburgh with an MA (Hons) in economics. She became a member of the CISI following completion of the CISI Diploma. She manages portfolios for private clients and is a Director of Ruffer (Channel Islands) Limited.
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Hacho Manikyan
Research Director
Joined Ruffer in 2016 as an analyst on one of Ruffer's specialist funds. Subsequent to that, he has been responsible for covering energy, commodities and cyclicals for the firm. Prior to joining Ruffer, he spent two years at BMO Capital Markets in London where he was advising Metals, Mining and Energy companies on strategic M&A and capital raises. He graduated with a degree in Economics from the University of Liverpool.
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).
Lucie_Meagher
Lucie Meagher
Director – Private Wealth
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, previously at law and accountancy firms in the private client tax sector. He graduated in law from the University of Regensburg and qualified as ‘Rechtsanwalt’ in Bavaria, Germany. He holds an LLM in International Business Law from the University of Exeter and is a member of the Association of Taxation Technicians.
Jos_North
Jos North
Head of UK Institutional & Wholesale
Joined Ruffer in 2012 and now leads Ruffer’s UK institutional business, including UK defined benefit, defined contribution and local government pension schemes, and UK charities. He is a member of the CISI following completion of the CISI diploma and co-manages two of Ruffer’s flagship funds.
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.
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Kevin Paul
Responsible Investments Director – ESG
Joined Ruffer in 2022. Previously a Director at Credit Suisse HOLT covering sustainability research, and a Vice President in the European equities division at Goldman Sachs. He holds a first class honours degree in economics from the University of Cambridge, an MBA from London Business School and is a CFA charterholder.
Dominic_Pearson
Dominic Pearson
Director – Private Wealth
Joined Ruffer in 2004 and manages assets across a variety of client types including private clients, charities, institutional, pensions and private OEICs. 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 is a Fellow of the Chartered Institute for Securities & Investment.
Oliver_Pile
Oliver Pile
Director – Private Wealth
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.
Ian_Rees
Ian Rees
Fund Manager
Joined Ruffer in 2012, after graduating from the University of Bath with an honours degree in economics. He is a CFA charterholder and co-manager of three of Ruffer’s flagship funds.
Sabine Remnant
Sabine Remnant
Director – Private Wealth
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
Head of Global Institutional
Joined Ruffer in 2013 and leads Ruffer’s US team and co-manages two of Ruffer’s flagship funds, alongside managing a number of separately managed accounts for endowments and foundations. Prior to joining Ruffer, she worked with oil and gas companies on their corporate and financial strategies, before joining the fund team at Ingenious Investments, an alternatives investment house. She is a CFA charterholder.
Cecile Rousseau
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.
Steve Russell
Fund Manager
Graduated from the University of 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, joining Ruffer in 2003. He was co-manager of Ruffer’s investment trust from 2004 to 2019 and is currently co-manager of two of Ruffer’s flagship funds. He became a non-executive director of F&C Investment Trust in 2022, having previously been non-executive director of JPMorgan European Investment Trust.
Chiara Ruta
Chiara Ruta
Director – Europe
Joined Ruffer in 2021, to expand the institutional clients business across continental Europe. Previously at Morgan Stanley and EBRD (the European Bank for Reconstruction and Development), she holds a master’s degree in economics from Bocconi University, Milan, and is fluent in Italian, English, French and Spanish.
Harry_Sevier
Harry Sevier
Director – Private Wealth
Joined Ruffer in 2008 after graduating with an MA Honours from the University of Edinburgh. He is a member of the CISI, having been awarded the CISI Diploma and receiving an Outstanding Achievement Award for Investment Analysis. He manages investment portfolios for individuals and charities and is an ESG specialist.
Matt_Smith
Matt Smith
Fund Manager
Joined Ruffer in 2011 after graduating from the University of Edinburgh 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 CISI. He sits on the senior asset allocation committee and co-manages two of Ruffer’s flagship funds.
Louise Stanway
Head of Compliance
Joined Ruffer in 1999 after graduating with an honours degree in accountancy and law. She became Ruffer’s Compliance Officer in 2007. Louise was a Director of the Joint Money Laundering Steering Group from 2004 to 2023 and served as its Chair from 2016 to 2022. She has also chaired PIMFA’s Financial Crime Committee since 2007.
Samantha Stiefel-Sevitt
Samantha Stiefel–Sevitt
Director – Private Wealth
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.
Nicola Taskis
Head of Investment Delivery
Joined Ruffer in 2018, following 12 years in various technology and program management roles at Goldman Sachs. Prior to this, she worked at Gartmore Investment Management, and as a software consultant. She holds a Bachelor of Business Science (Hons) from the University of Cape Town.
Andrew_vanBiljon
Andrew van Biljon
Research Director
Joined Ruffer in 2010 after completing an MPhil in Economics at the University of Oxford. He manages the derivatives in the Ruffer portfolio and is part of the Macro team, contributing to risk, research and asset allocation decisions.
Emma_Varley
Emma Varley
Director – Private Wealth
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.
Piers Wheeler
Director – Global Institutional
Joined Ruffer in 2021 to assist with business development and client servicing across EMEA. Previously worked with asset management firms including Eastspring, AMP Capital and LEK as a strategic consultant. He holds a MA from Cass Business School and a BA (Hons) from the University of Oxford.
Shaheen Zaman
Research Director
Graduated in 2003 from the Indian Institute of Technology Bombay with B Tech in engineering physics, working in equity research, quantitative equity research, derivatives, and game design until 2008. Joined Ruffer in 2010, having received an MBA with distinction from the London Business School.
Joseph Barker
Investment Manager
Joined Ruffer in 2017, having graduated with a first class degree in mathematics from the University of Oxford. He manages portfolios for UK private clients as part of Ruffer’s UK Wealth team. He is a member of the CISI and a CFA charterholder.
Ben Crawfurd-Porter
Manager – UK Institutional
Joined Ruffer in 2017, having graduated with a master’s degree in physics from the University of Edinburgh. Previous roles in Ruffer's Responsible Investment and UK charities teams, and he is now responsible for Ruffer’s LGPS investors. He is a member of the CISI and a CFA charterholder.
Jack Dunne
Jack Dunne
Manager – Private Wealth
Joined Ruffer in 2018 after graduating from the University of Cambridge with a degree in management and land economy. He manages portfolios for private clients and charities as part of Ruffer’s Private Wealth team. He is a member of the Chartered Institute for Securities & Investment and a Chartered Wealth Manager.
Kathryn Forsyth
Kate Forsyth
Fund Manager
Joined Ruffer in 2016, having graduated with a degree in Spanish and international management from the University of Bath. She is a member of the CISI, following completion of the CISI Masters in wealth management. She manages portfolios predominantly for private clients and is the investment specialist for one of Ruffer’s flagship funds.
Julien_Galichet
Julien Galichet
Manager – Europe
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).
Garrey Hamilton
Manager – UK Wholesale
Joined Ruffer in 2021, having spent the previous 14 years at RLAM and Standard Life Investments. He holds the Diploma in Regulated Financial Planning (CII) and the Investment Management Certificate (CFA). He is also a trustee of the Agnes Hunter Trust (SCIO), sitting on the investment committee.
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Alexander Jones
Research Analyst
Joined Ruffer's macro research team as a graduate in 2017. He holds an MSc from UCL and a first class degree from Durham University, both in economics.
Melissa Kampner
Investor Relations Manager
Joined Ruffer in 2021, focusing on international institutional client relationships. Prior to Ruffer, she spent 13 years at JPMorgan in both institutional asset management and the private bank, in New York and London. She graduated from Brandeis University in 2007 with a BA in Economics and Spanish.
Fiona Ker
Fund Manager
Joined Ruffer in 2017 from Ernst & Young. She holds an honours degree in singing performance from the Royal Conservatoire of Scotland. Fiona manages portfolios for institutions with a focus on international clients, and is a member of the CISI and the Institute of Chartered Accountants for England & Wales. She is co-manager of two of Ruffer’s flagship funds.
Tom Matterson
Manager – Private Wealth
Joined Ruffer in 2016 from an investment analyst role at Bishops Rock Capital. He holds a BA in economics and geography from the University of Leeds and is a CFA charterholder. He spent 2020 as an equity analyst in Ruffer’s former Hong Kong office and now manages portfolios for private clients and trusts in the UK and Channel Islands.
Celine_Matuszewski
Céline Matuszewski
Investor Relations 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.
Rory McIvor
Investment Communications Specialist
Joined Ruffer in 2017 after graduating from the University of Edinburgh with a first class honours degree in history and politics. After four years in the private client investment team, he now leads Ruffer’s investment communications. He is a member of the Chartered Institute for Securities & Investment.
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Sara Osberg
Director – Consultant Relations, US | Ruffer LLC registered representative
Joined Ruffer in 2023 to focus on Ruffer’s US consultant and intermediary relationships. Most recently, she was at Gallatin Capital LLC where she began establishing relationships for Ruffer LLP with US consultants and intermediaries. Sara holds a BA in economics from Trinity College in Hartford, CT. She also holds Series 7, 63 and 24.
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Mathieu Ras
Investor Relations Manager
Trained as a multi asset and derivatives broker in 2009, joining IHS Markit (now S&P Global) as a macro research specialist, followed by an institutional proposal role at Carmignac. Joined Ruffer in 2022 to focus on institutional clients in Europe. Mathieu graduated from EDHEC Business School and is a CFA charterholder.
Orlando Roberts
Orlando Roberts
Manager – Private Wealth
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.
Edward Roe
Investment Manager
Joined Ruffer in 2017, having graduated with a Master’s degree in physics from the University of Oxford. He manages portfolios for UK defined benefit pension schemes and charities as part of Ruffer’s institutional team. He is a member of the CISI and a CFA charterholder.
Oliver Shale
Oliver Shale
Investment Specialist, US | Ruffer LLC registered representative
Joined Ruffer in 2016, having graduated from the University of Cambridge with a BA honours degree. He is an investment specialist based in Ruffer’s New York office and is focused on building Ruffer’s US business for pension plans, endowments, foundations and family offices. He is a CFA charterholder.
Hannah Nairn
Hannah Nairn
Research Associate
Joined Ruffer in 2021 after completing a master’s degree in cconomics at the University of Cambridge. Previously graduated from the London School of Economics in 2019 with a first class honours in History.
India White-Spunner
India White-Spunner
Manager – UK Institutional
Joined Ruffer in 2017 having graduated with an MA honours in English from the University of St Andrews. She is a member of the Chartered Institute for Securities & Investment following completion of the CISI Masters in Wealth Management in 2019. She manages UK institutional client portfolios including defined benefit pension schemes and charities.
Jasmine Yeo
Fund Manager
Joined Ruffer in 2017, having graduated with a degree from Warwick Business School. She is a member of the CISI, following completion of the CISI Masters in Wealth Management. She has managed private client portfolios and now works with wealth managers and advisors as part of Ruffer’s UK wholesale team. She is co-manager of two of Ruffer’s flagship funds and Ruffer’s investment trust.
BOARD
Jonathan_Ruffer
Jonathan Ruffer
Chairman
Trained as a barrister and a stockbroker with Myers & Co in 1973 before moving into private client investment management in 1979, 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.
Campbell Fleming
Campbell Fleming
Deputy Chairman
Trained as a barrister in Australia before moving to the UK in 1995 and into the investment management industry in 1997, with Robert Fleming Asset Management (RFAM). Formerly Global Head of Distribution with Aberdeen Standard Investments, CEO of Columbia Threadneedle Investments and Head of UK for JPMorgan Asset Management after the merger of JPMorgan and Chase which had acquired RFAM. He also chairs The Big Exchange Limited and has served on various industry bodies and boards. Joined Ruffer’s Board and its sub-committees in July 2021.
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 Board and its sub-committees in 2018.
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Twembi Rukandema
Non-Executive Director
Twembi leads the banking practice at MindGym, a behavioural science consultancy that offers culture and behaviour change solutions. A trained economist, he started his career in the government economics service, before holding economics and strategy consulting roles at PwC and Oxford Economics. He joined the Board and its sub committees in April 2023.
Henry_Maxey
Henry Maxey
Co-CIO
Joined Ruffer in 1998 after graduating from the University of Oxford with a first class honours degree in economics and management. He became a CFA charterholder in 2003. Henry joined the Executive Committee in 2006 and became Chief Investment Officer in 2010. In 2012, he additionally became Chief Executive, a role he relinquished in 2017 to focus on leading Ruffer’s investment strategy.
Chris Bacon
Chris Bacon
Chief Executive
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. Chris is a Member of the Board and Executive Committee and became Chief Executive in January 2022.
Miranda Best
Miranda Best
Deputy CEO
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 began managing Ruffer's illiquid strategies in 2011, became Head of Specialist Funds in 2016, and Head of Investments in 2020. Miranda is a Member of the Board and Executive Committee and became deputy CEO in January 2022.
EXECUTIVE COMMITTEE
Chris Bacon
Chris Bacon
Chief Executive
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. Chris is a Member of the Board and Executive Committee and became Chief Executive in January 2022.
Miranda Best
Miranda Best
Deputy CEO
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 began managing Ruffer's illiquid strategies in 2011, became Head of Specialist Funds in 2016, and Head of Investments in 2020. Miranda is a Member of the Board and Executive Committee and became deputy CEO in January 2022.
Luka Gakic
Luka Gakic
Head of Core Fund Management
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.
Omar Kodmani
Head of Clients & Distribution
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.
Katie Smith
General Counsel
Joined Ruffer in 2022 from Vanguard where she was European General Counsel. Prior roles include Managing Director and Global Head of Compliance for Deutsche Bank’s Asset Management division and Managing Director in the Legal team at BlackRock. She began her career at Clifford Chance LLP, is admitted as a solicitor in England and Wales, and a graduate of the University of Cambridge.
Simon Mountain
Chief Operating Officer
Joined Ruffer in 2013 from Bain & Company where he advised clients on strategic and operational issues. He holds a Master’s degree in manufacturing engineering from the University of Cambridge.
CLIENTS AND FUND MANAGEMENT
Luka Gakic
Luka Gakic
Head of Core Fund Management
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.
Omar Kodmani
Head of Clients & Distribution
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.
David_Benson
David Benson
Director – UK Institutional
After graduating from the University of Oxford, 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
Head of Europe
Graduated from ESCP Business School and joined the investment management division of Goldman Sachs, before participating in the launch of Fulcrum Asset Management where he was a Director until 2010, when he joined Ruffer. He leads the delivery of Ruffer’s investment strategy and service in Europe.
Alexander Chartres
Fund Manager
Joined Ruffer in 2010 after graduating from Newcastle University with a first class honours degree in history and politics, and is a Fellow of the Chartered Institute for Securities & Investment. He specialises in geopolitics and is co-manager of two of Ruffer‘s flagship funds.
Bertie_Dannatt
Bertie Dannatt
Head of Private Wealth
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.
Laetitia East
Director – US Institutional | Ruffer LLC registered representative
Joined Ruffer in 2012 after graduating with a degree in modern history from the University of Oxford. She became a member of the CISI in 2014 following completion of the CISI Diploma. Previously an investment manager, Laetitia helped establish Ruffer’s US business in 2019. She is based in Ruffer’s New York office and responsible for Ruffer’s US institutional business development. She holds Series 7 and 63.
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James Fouracre
Director – UK Institutional
Joined Ruffer in 2022 to lead on the strategy and distribution across defined contribution pension schemes in the UK and Ireland. Previous roles include a range of senior distribution and strategy appointments at HSBC Global Asset Management, across the wholesale and institutional businesses at regional and global level.
Lauren French
Lauren French
Deputy Head of Private Wealth
After graduating from the University of Oxford, she worked at JO Hambro Capital Management. 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. She has been an Investment Director in the UK Wealth team since 2019.
Rory Goodman
Rory Goodman
Director – Private Wealth
Joined Ruffer in 2014, having graduated from Durham University with a first class honours degree in economics. He manages portfolios for UK and international private clients. He is a Chartered Fellow of the CISI and a Chartered Wealth Manager.
Tim Gordon
Director – UK Wholesale
Joined Ruffer in 2021 to develop UK wholesale distribution. He previously spent five years at Robeco developing their UK business and five years at SKAGEN as Head of UK Wholesale.
Joshua Gunson
Director – UK Wholesale
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
Director – Private Wealth
Joined Ruffer in 2010 after graduating from Bristol University with an honours 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 and is currently on the investment committee for a London livery company.
Rachel Holdsworth
Rachel Holdsworth
Director – Private Wealth
Joined Ruffer in 2013, having graduated from the University of Oxford with a BA Honours in biological sciences. She manages portfolios for private clients in the UK and Channel Islands. She is a fellow of the CISI, following completion of the CISI Masters in wealth management.
Ajay Johal
Director – UK Institutional
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 and is co-manager of Ruffer’s charity fund.
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Chad Kutney
Director – US Institutional | Ruffer LLC registered representative
Joined Ruffer in 2022 with a focus on developing Ruffer’s US Institutional business. Most recently, he was a Director at Winton Group, a leading global investment management firm, serving as a Senior Client Advisor. Chad holds a BA in economics from Rutgers University.
Alex_Lennard
Alex Lennard
Fund Manager
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 associate for Jonathan Ruffer and now manages institutional investment portfolios. He sits on the senior asset allocation committee and is co–manager of three of Ruffer’s flagship funds. He is also a Non-Executive Director of the JPMorgan European Investment Trust.
Charles_Lynne
Charles Lynne
Director – Private Wealth
Joined Ruffer in 2008 and manages investment portfolios for individuals and charities. Previously at Morgan Stanley Investment Management, including a placement in Asia. He holds a first class honours in natural sciences from Durham University and is a Chartered Fellow of the CISI.
Duncan_Macinnes
Duncan MacInnes
Fund Manager
Joined Ruffer in 2012. He graduated from the University of Glasgow School of Law in 2007 and spent four years working at Barclays in Glasgow, London and Singapore. He is a CFA charterholder and co-manager of two of Ruffer's flagship funds.
Annabel_Mackenzie
Annabel Mackenzie
Director – Private Wealth
Joined Ruffer in 2006, having graduated from the University of Edinburgh with an MA (Hons) in economics. She became a member of the CISI following completion of the CISI Diploma. She manages portfolios for private clients and is a Director of Ruffer (Channel Islands) Limited.
Lucie_Meagher
Lucie Meagher
Director – Private Wealth
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.
Jos_North
Jos North
Head of UK Institutional & Wholesale
Joined Ruffer in 2012 and now leads Ruffer’s UK institutional business, including UK defined benefit, defined contribution and local government pension schemes, and UK charities. He is a member of the CISI following completion of the CISI diploma and co-manages two of Ruffer’s flagship funds.
Dominic_Pearson
Dominic Pearson
Director – Private Wealth
Joined Ruffer in 2004 and manages assets across a variety of client types including private clients, charities, institutional, pensions and private OEICs. 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 is a Fellow of the Chartered Institute for Securities & Investment.
Oliver_Pile
Oliver Pile
Director – Private Wealth
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.
Ian_Rees
Ian Rees
Fund Manager
Joined Ruffer in 2012, after graduating from the University of Bath with an honours degree in economics. He is a CFA charterholder and co-manager of three of Ruffer’s flagship funds.
Sabine Remnant
Sabine Remnant
Director – Private Wealth
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
Head of Global Institutional
Joined Ruffer in 2013 and leads Ruffer’s US team and co-manages two of Ruffer’s flagship funds, alongside managing a number of separately managed accounts for endowments and foundations. Prior to joining Ruffer, she worked with oil and gas companies on their corporate and financial strategies, before joining the fund team at Ingenious Investments, an alternatives investment house. She is a CFA charterholder.
Steve Russell
Fund Manager
Graduated from the University of 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, joining Ruffer in 2003. He was co-manager of Ruffer’s investment trust from 2004 to 2019 and is currently co-manager of two of Ruffer’s flagship funds. He became a non-executive director of F&C Investment Trust in 2022, having previously been non-executive director of JPMorgan European Investment Trust.
Chiara Ruta
Chiara Ruta
Director – Europe
Joined Ruffer in 2021, to expand the institutional clients business across continental Europe. Previously at Morgan Stanley and EBRD (the European Bank for Reconstruction and Development), she holds a master’s degree in economics from Bocconi University, Milan, and is fluent in Italian, English, French and Spanish.
Harry_Sevier
Harry Sevier
Director – Private Wealth
Joined Ruffer in 2008 after graduating with an MA Honours from the University of Edinburgh. He is a member of the CISI, having been awarded the CISI Diploma and receiving an Outstanding Achievement Award for Investment Analysis. He manages investment portfolios for individuals and charities and is an ESG specialist.
Matt_Smith
Matt Smith
Fund Manager
Joined Ruffer in 2011 after graduating from the University of Edinburgh 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 CISI. He sits on the senior asset allocation committee and co-manages two of Ruffer’s flagship funds.
Samantha Stiefel-Sevitt
Samantha Stiefel–Sevitt
Director – Private Wealth
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
Director – Private Wealth
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.
Piers Wheeler
Director – Global Institutional
Joined Ruffer in 2021 to assist with business development and client servicing across EMEA. Previously worked with asset management firms including Eastspring, AMP Capital and LEK as a strategic consultant. He holds a MA from Cass Business School and a BA (Hons) from the University of Oxford.
Joseph Barker
Investment Manager
Joined Ruffer in 2017, having graduated with a first class degree in mathematics from the University of Oxford. He manages portfolios for UK private clients as part of Ruffer’s UK Wealth team. He is a member of the CISI and a CFA charterholder.
Ben Crawfurd-Porter
Manager – UK Institutional
Joined Ruffer in 2017, having graduated with a master’s degree in physics from the University of Edinburgh. Previous roles in Ruffer's Responsible Investment and UK charities teams, and he is now responsible for Ruffer’s LGPS investors. He is a member of the CISI and a CFA charterholder.
Jack Dunne
Jack Dunne
Manager – Private Wealth
Joined Ruffer in 2018 after graduating from the University of Cambridge with a degree in management and land economy. He manages portfolios for private clients and charities as part of Ruffer’s Private Wealth team. He is a member of the Chartered Institute for Securities & Investment and a Chartered Wealth Manager.
Kathryn Forsyth
Kate Forsyth
Fund Manager
Joined Ruffer in 2016, having graduated with a degree in Spanish and international management from the University of Bath. She is a member of the CISI, following completion of the CISI Masters in wealth management. She manages portfolios predominantly for private clients and is the investment specialist for one of Ruffer’s flagship funds.
Julien_Galichet
Julien Galichet
Manager – Europe
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).
Garrey Hamilton
Manager – UK Wholesale
Joined Ruffer in 2021, having spent the previous 14 years at RLAM and Standard Life Investments. He holds the Diploma in Regulated Financial Planning (CII) and the Investment Management Certificate (CFA). He is also a trustee of the Agnes Hunter Trust (SCIO), sitting on the investment committee.
Melissa Kampner
Investor Relations Manager
Joined Ruffer in 2021, focusing on international institutional client relationships. Prior to Ruffer, she spent 13 years at JPMorgan in both institutional asset management and the private bank, in New York and London. She graduated from Brandeis University in 2007 with a BA in Economics and Spanish.
Fiona Ker
Fund Manager
Joined Ruffer in 2017 from Ernst & Young. She holds an honours degree in singing performance from the Royal Conservatoire of Scotland. Fiona manages portfolios for institutions with a focus on international clients, and is a member of the CISI and the Institute of Chartered Accountants for England & Wales. She is co-manager of two of Ruffer’s flagship funds.
Tom Matterson
Manager – Private Wealth
Joined Ruffer in 2016 from an investment analyst role at Bishops Rock Capital. He holds a BA in economics and geography from the University of Leeds and is a CFA charterholder. He spent 2020 as an equity analyst in Ruffer’s former Hong Kong office and now manages portfolios for private clients and trusts in the UK and Channel Islands.
Celine_Matuszewski
Céline Matuszewski
Investor Relations 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.
Rory McIvor
Investment Communications Specialist
Joined Ruffer in 2017 after graduating from the University of Edinburgh with a first class honours degree in history and politics. After four years in the private client investment team, he now leads Ruffer’s investment communications. He is a member of the Chartered Institute for Securities & Investment.
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Sara Osberg
Director – Consultant Relations, US | Ruffer LLC registered representative
Joined Ruffer in 2023 to focus on Ruffer’s US consultant and intermediary relationships. Most recently, she was at Gallatin Capital LLC where she began establishing relationships for Ruffer LLP with US consultants and intermediaries. Sara holds a BA in economics from Trinity College in Hartford, CT. She also holds Series 7, 63 and 24.
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Mathieu Ras
Investor Relations Manager
Trained as a multi asset and derivatives broker in 2009, joining IHS Markit (now S&P Global) as a macro research specialist, followed by an institutional proposal role at Carmignac. Joined Ruffer in 2022 to focus on institutional clients in Europe. Mathieu graduated from EDHEC Business School and is a CFA charterholder.
Orlando Roberts
Orlando Roberts
Manager – Private Wealth
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.
Edward Roe
Investment Manager
Joined Ruffer in 2017, having graduated with a Master’s degree in physics from the University of Oxford. He manages portfolios for UK defined benefit pension schemes and charities as part of Ruffer’s institutional team. He is a member of the CISI and a CFA charterholder.
Oliver Shale
Oliver Shale
Investment Specialist, US | Ruffer LLC registered representative
Joined Ruffer in 2016, having graduated from the University of Cambridge with a BA honours degree. He is an investment specialist based in Ruffer’s New York office and is focused on building Ruffer’s US business for pension plans, endowments, foundations and family offices. He is a CFA charterholder.
India White-Spunner
India White-Spunner
Manager – UK Institutional
Joined Ruffer in 2017 having graduated with an MA honours in English from the University of St Andrews. She is a member of the Chartered Institute for Securities & Investment following completion of the CISI Masters in Wealth Management in 2019. She manages UK institutional client portfolios including defined benefit pension schemes and charities.
Jasmine Yeo
Fund Manager
Joined Ruffer in 2017, having graduated with a degree from Warwick Business School. She is a member of the CISI, following completion of the CISI Masters in Wealth Management. She has managed private client portfolios and now works with wealth managers and advisors as part of Ruffer’s UK wholesale team. She is co-manager of two of Ruffer’s flagship funds and Ruffer’s investment trust.
INVESTMENT RESEARCH
Henry_Maxey
Henry Maxey
Co-CIO
Joined Ruffer in 1998 after graduating from the University of Oxford with a first class honours degree in economics and management. He became a CFA charterholder in 2003. Henry joined the Executive Committee in 2006 and became Chief Investment Officer in 2010. In 2012, he additionally became Chief Executive, a role he relinquished in 2017 to focus on leading Ruffer’s investment strategy.
Miranda Best
Miranda Best
Deputy CEO
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 began managing Ruffer's illiquid strategies in 2011, became Head of Specialist Funds in 2016, and Head of Investments in 2020. Miranda is a Member of the Board and Executive Committee and became deputy CEO in January 2022.
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Neil McLeish
Co-CIO
Joined Ruffer in 2022 after nearly 30 years at Morgan Stanley where he held roles in Research and Trading, latterly as Global Head of Macro Research. In 2021, he undertook the Sloan Fellowship at London Business School, graduating with Distinction. He became Co-Chief Investment Officer in 2023.
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.
Alex Barnett
Research Director
Joined Ruffer’s former Hong Kong office in 2013 and relocated to the London global equities research team in 2019. Previous roles included 12 years on the sell side in Canadian healthcare and with Jefferies International, Paris, researching pan-European small/mid caps and industrials. He is a CFA charterholder.
Jamie_Dannhauser
Jamie Dannhauser
Economist
Joined Ruffer in 2014, after seven years at Lombard Street Research. He is the firm’s economist and is responsible for shaping, and at times challenging, its macro and thematic views. He graduated from the University of Cambridge with a first class honours degree in economics. He is currently a member of the IEA’s Shadow Monetary Policy Committee.
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Teun Draaisma
Head of Investment Strategy
Joined Ruffer in April 2023 from Man Group, where he was the lead portfolio manager of the multi-asset funds. Previous roles included BlackRock, Morgan Stanley and TT International as a fund manager, asset allocator and equity strategist. He holds a Master’s degree in econometrics from Erasmus University Rotterdam.
Jon_Dye
Jon Dye
Research Director
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.
Richard_Edwards
Richard Edwards
Head of Dealing
Joined Ruffer in 2010 to establish the centralised dealing team, having spent the previous ten years in a variety of trading and execution roles at Ecofin and Dye Asset Management. Prior to this he worked in the technology team at UBS Phillips & Drew.
Sahil Gaba
Sahil Gaba
Research Director
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.
Alex_Grispos
Alex Grispos
Research 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 one of Ruffer’s specialist funds.
Alex Jamieson
Research Business Director
Joined Ruffer in 2012 as Risk and Attribution Manager, moving to Ruffer's mid and smaller companies team in 2014. Prior to this, he spent four years at F&C Investments and State Street. Holds a Masters degree in international financial analysis from Newcastle University. He is a CFA charterholder.
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 manages one of Ruffer's specialist funds.
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Hacho Manikyan
Research Director
Joined Ruffer in 2016 as an analyst on one of Ruffer's specialist funds. Subsequent to that, he has been responsible for covering energy, commodities and cyclicals for the firm. Prior to joining Ruffer, he spent two years at BMO Capital Markets in London where he was advising Metals, Mining and Energy companies on strategic M&A and capital raises. He graduated with a degree in Economics from the University of Liverpool.
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.
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Kevin Paul
Responsible Investments Director – ESG
Joined Ruffer in 2022. Previously a Director at Credit Suisse HOLT covering sustainability research, and a Vice President in the European equities division at Goldman Sachs. He holds a first class honours degree in economics from the University of Cambridge, an MBA from London Business School and is a CFA charterholder.
Andrew_vanBiljon
Andrew van Biljon
Research Director
Joined Ruffer in 2010 after completing an MPhil in Economics at the University of Oxford. He manages the derivatives in the Ruffer portfolio and is part of the Macro team, contributing to risk, research and asset allocation decisions.
Shaheen Zaman
Research Director
Graduated in 2003 from the Indian Institute of Technology Bombay with B Tech in engineering physics, working in equity research, quantitative equity research, derivatives, and game design until 2008. Joined Ruffer in 2010, having received an MBA with distinction from the London Business School.
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Alexander Jones
Research Analyst
Joined Ruffer's macro research team as a graduate in 2017. He holds an MSc from UCL and a first class degree from Durham University, both in economics.
Hannah Nairn
Hannah Nairn
Research Associate
Joined Ruffer in 2021 after completing a master’s degree in cconomics at the University of Cambridge. Previously graduated from the London School of Economics in 2019 with a first class honours in History.
BUSINESS
Katie Smith
General Counsel
Joined Ruffer in 2022 from Vanguard where she was European General Counsel. Prior roles include Managing Director and Global Head of Compliance for Deutsche Bank’s Asset Management division and Managing Director in the Legal team at BlackRock. She began her career at Clifford Chance LLP, is admitted as a solicitor in England and Wales, and a graduate of the University of Cambridge.
Simon Mountain
Chief Operating Officer
Joined Ruffer in 2013 from Bain & Company where he advised clients on strategic and operational issues. He holds a Master’s degree in manufacturing engineering from the University of Cambridge.
Edwina Blackford
Chief of Staff
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.
Martyn_Cane
Martyn Cane
Investment Operations Director
Prior to joining Ruffer in 2010, he held roles across a range of operational functions at HSBC, Pershing, Société Générale and GLG Partners.
Martin Cullen
Finance Director
Joined Ruffer in 2019, after 13 years in corporate development and finance roles at the ED&F Man Group. Previous roles included Vice President in the Rates division of JPMorgan. He holds an MEng from the University of Oxford and an MBA from the Yale School of Management.
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Lucy Hodgson
Head of Legal
Joined Ruffer in 2015 from Simmons & Simmons, where she advised asset managers and hedge funds on a range of product and regulatory issues. She is admitted as a solicitor in England and Wales, holds a LLB from the University of Bristol and an MBA from BBP University Business School.
Prachi Kodlikeri
Technology Director
Joined Ruffer in 2019, where she is responsible for managing Ruffer’s client-facing technology and cloud strategy and engineering. Prior to this, she spent 13 years in various global technology roles at Goldman Sachs. She has an MS in computer science from the State University of New York at Stony Brook.
Kate Law
Head of Client Operations
Previously at JM Finn, she joined Ruffer’s Operations team in 2010, moving to an investment team in 2013. In 2022, she returned to Operations and is responsible for Client Operations.
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).
Philipp_Mitterbauer
Philipp Mitterbauer
Head of Tax
Joined Ruffer in 2009, previously at law and accountancy firms in the private client tax sector. He graduated in law from the University of Regensburg and qualified as ‘Rechtsanwalt’ in Bavaria, Germany. He holds an LLM in International Business Law from the University of Exeter and is a member of the Association of Taxation Technicians.
Cecile Rousseau
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
Head of Compliance
Joined Ruffer in 1999 after graduating with an honours degree in accountancy and law. She became Ruffer’s Compliance Officer in 2007. Louise was a Director of the Joint Money Laundering Steering Group from 2004 to 2023 and served as its Chair from 2016 to 2022. She has also chaired PIMFA’s Financial Crime Committee since 2007.
Nicola Taskis
Head of Investment Delivery
Joined Ruffer in 2018, following 12 years in various technology and program management roles at Goldman Sachs. Prior to this, she worked at Gartmore Investment Management, and as a software consultant. She holds a Bachelor of Business Science (Hons) from the University of Cape Town.
London
80 Victoria Street
London SW1E 5JL
Edinburgh
31 Charlotte Square
Edinburgh EH2 4ET
Paris
103 boulevard Haussmann
75008 Paris, France