James will remain with the Company as joint Chief Investment Officer with Jerry, and on the Board as an Executive Director. He will continue to be actively involved in the running of the award-winning Tenax Absolute Return Strategies Fund, the range of UK and Global Equity funds and the management of client portfolios.

These changes confirm a strong leadership team for the next phase of development of Church House. As CEO, Jerry will be responsible for leading the strategic development of the business. Alongside Jerry, as part of the succession planning process, Operations Director Roger Davis will take up the role of Managing Director and responsibility for the day-to-day management of the business. The Private Client offering will continue to be headed up by James Johnsen, who is also one of the Executive Directors.

These changes take place with effect from 1 January 2022.

Michael Baines, Chairman, commented:

“On behalf of the Board, I would like to thank James for his outstanding contribution throughout his 11 years as CEO. Under James’ leadership, Church House has successfully built-up an excellent track record for clients and investors in our funds, while the Company has been consistently profitable and been paying a growing dividend to shareholders. In his ongoing roles as joint Chief Investment Officer and Director, he will continue running funds and supporting the development of our business.

We are delighted to appoint Jerry as CEO. Jerry has played a key role in the success of Church House, serving as joint Chief Investment Officer for the past 2 years and running our very successful CH Investment Grade Bond Fund (CHIG) since he joined us in 2004. Further strengthening our senior leadership team is Roger Davis who becomes Managing Director, supporting Jerry and focusing on the operational aspects of the business. Our consistently successful Private Client proposition will remain under the valued stewardship of James Johnsen, building on the progress in recent years.

As we build on our past success, these new appointments form a key part of our forward-looking strategy, so we look to grow and make the most of the many opportunities ahead.”

Jerry Wharton, Joint Chief Investment Officer, said:

“I am delighted to be taking up the role of CEO and the opportunity this presents to lead the strategic development of our business. Alongside this, I will fully maintain my existing involvement in the management of our funds, in particular managing CHIG and co-managing Tenax with James, building on our excellent track record of capital preservation.

At a time of great uncertainty in financial markets, and ever-increasing complexity in financial services, we believe there is a strong and enduring appetite for our commitment to the personal service we offer our clients and investors, and the benefits to them of our own, inhouse managed funds offering covering all asset classes. We believe the combination of our private client business, together with our ability to further develop our independent funds business, presents us with many opportunities for future growth, building on the strong platform we have built under James’ leadership.”

James Mahon, CEO and Joint Chief Investment Officer, said:

“It has been a great privilege to have led Church House for the past 11 years. First and foremost, I am proud of our record of consistent risk-adjusted returns for our clients through some difficult times. This track record provides a very solid foundation for the future development of the business. I am delighted to be continuing with the Company and supporting Jerry in the management of our funds. The business is now at a scale where the time for a new team to take over is nigh and I am confident that, under Jerry’s leadership, working with Roger and James Johnsen, Church House will continue to go from strength to strength.”