Hermes GPE's MacKay to step down

With the emphasis shifting away from integration and build-out to growth, Hermes plans to focus on its private equity and infrastructure divisions and developing them more independently rather than centrally. As a result, MacKay is stepping down.

MacKay will remain with the company on an advisory level and will retain a significant shareholding. The private equity business will continue to be led by Peter Gale while Peter Hofbauer will remain at the helm of the infrastructure business.

His decision to step down from his current role highlights the success of MacKay's leadership, having overseen the merger of Hermes and Gartmore Investment Management's funds-of-funds businesses in April 2010.

Click here to watch a recent video interview with MacKay.

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