Octopus Investments has appointed current CEO of Octopus Real Estate, Benjamin Davis, as the new CEO of its retail and institutional fund management business.
Davis, who joined Octopus Group in 2010 and has held several roles across the business, succeeds current Octopus Investment CEO Ruth Handcock as of today.
As CEO of Octopus Real Estate Davis grew the team’s funds under management from £2bn to £3.8bn and launched several new funds. He also spearheaded the Greener Homes Alliance partnership with Homes England.
Edward Clough, who has been with Octopus Real Estate for more than five years. will succeed Davis as managing director of Octopus Real Estate.
Handcock, who has been CEO of Octopus Investments for four years, will remain part of the wider Octopus Group and support Davis through a transition period in an advisory capacity.
Octopus Investments has also announced plans to invest £50bn in the ‘people, ideas and industries that will change the world, by 2030’, with Jonathan Digges, chief investment officer, leading these plans.
Simon Rogerson, founder and CEO of Octopus Group, said: “Today’s announcement represents a hugely exciting moment for Octopus, for three reasons. Benjamin is a perfect example of the leaders we look for at Octopus. He is passionate about our mission and has already delivered several significant initiatives that have contributed to it. This is the latest milestone for Benjamin in what’s already been a brilliant, varied career at Octopus, and I have supreme confidence in his ability to lead Octopus Investments.
“It is a bittersweet moment, particularly for Octopus Investments customers and employees, to see Ruth move to another part of the group. Ruth has achieved an extraordinary amount during her four years as CEO and I can’t wait to see what I’m sure will be equally successful results in her new Octopus endeavour. Like Benjamin, Ruth epitomises what it means to be part of our group: someone who places just as much emphasis on how she behaves as a colleague and leader as what she does.
“Beyond the leadership changes, our ambition to invest £50bn in line with our mission within the next seven years is one that everyone at Octopus is excited and motivated by, and no one more so than Jonathan. To reach such a bold target will require new, disruptive ideas, something Octopus has always thrived on.”
Davis said: “When I joined Octopus Investments as an investment manager more than 12 years ago, the business had fewer than 200 employees and less than £2bn funds under management. Today, it has nearly 700 employees and £12.8bn under management.
“To now have the opportunity to lead such a phenomenally successful business, as it continues to explore new areas of growth and grab opportunities that set it apart from other investment companies, is extremely exhilarating. I’m looking forward to working with all of Octopus Investments’ sensational employees and loyal customers in the months and years to come.”
Handcock added: “I’ve been incredibly fortunate to lead a business like Octopus Investments over the past four years. I’ve learnt a huge amount from our customer-obsessed teams and I’m so proud, in particular, of them achieving a five star rating in the Financial Adviser Service Awards for nine years running.
“Perhaps even more powerfully I’ve learnt from our financial planning customers about the extraordinary power that conversations can have in delivering brilliant financial outcomes. I’m sad to leave Octopus Investments but the experience has strongly shaped my belief that more people should have access to these outcomes.”
