Electra deputy managing partner Symondson steps down

The retirement comes shortly after managing partner Hugh Mumford was replaced by chief investment partner Alex Fortescue as part of a succession plan initiated by the GP in 2010.

Symondson, who joined Electra in 1983, will continue as deputy chair of the Electra Partners Investment Committee and will retain his position on the board at portfolio company Allflex Corporation. His departure is the latest development to be announced by Electra as part of its long-term plans.

In April 2015, the GP started implementing its succession plan with the retirements of another deputy managing partner, Tim Syder, and partner Rhian Davies. The firm also added Charles Elkington and Chris Hanna to its partner roster, with both Syder and Davies staying on as senior advisers.

The succession at the top of Electra Partners follows recent turmoil for the listed Electra Private Equity entity. In November, activist investor Edward Bramson was vindicated when his appointment to the board was approved with 53.5% of the votes. His victory led to chairperson Roger Yates announcing he would resign with immediate effect. Neil Johnson was appointed non-executive chair of Electra Private Equity last week.

As well as announcing Symondson's retirement, Electra has also appointed Rothschild's Arvind Tewari as investment manager. Tewari spent six years with Rothschild and leaves his role as vice-president of investment banking, focusing on M&A in the healthcare, consumer and real estate sectors.

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