JCP co-founder to step down as MD

JCP Investment Partners has announced that co-founder, Michael Fitzsimmons, will step down as managing director, effective 30 September, but will remain as an executive director on the JCP board.

In a statement from the firm, which detailed the new board composition, including the appointment of former TCorp GM of investments, Mark O'Brien, as executive chair, JCP said that Fitzsimmons' focus "will now be entirely on managing client money and providing support to the rest of [the] Investment Team."

"Investing is what Michael is most passionate about and given his strong track record (of over 6% alpha for the periods he has managed JCP's Benchmark Insensitive portfolios), we believe this is a strong positive development for our clients and prospective clients", the firm added.

Fitzsimmons has 25 years' experience in institutional funds management, having previously worked at National Mutual and ANZ Funds Management before establishing JCP Investment Partners in December 1998.

A spokesperson for JCP confirmed to Industry Moves that part of Mark O'Brien's role as executive chair will include the appointment of a new managing director in time, and will involve the assessment of both internal and external candidates.