Fraser-Allen succeeds Reeve as Albion head

Simultaneously, Andrew Elder is being promoted to deputy managing partner.

Reeve will chair the boards of Albion and OLIM Investment Managers (a subsidiary of Albion), and continue to be involved in directing the strategy of the business. He joined Close Brothers in 1989, established the venture division Close Ventures and then led the management buyout of the division in 2009 that formed Albion Capital and has led the business ever since.

Fraser-Allen will take over the day-to-day running of the business, including investment oversight. He joined the business in 2001 and has focused on technology, leisure, media, business services and healthcare during his tenure with the firm.

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