Channel Islands investment firm BH Global said it had brought in Sir Michael Bunbury as its new Chairman after the resignation of the incumbent, Lord Turnbull.
The latter will resign on 1st january after five years as a non-executive director and Chairman of the company to "pursue other commitments".
"I am now standing down after five years planning, launching and chairing BH Global," Turnbull said.
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"Since its launch in June 2008 its Net Asset Value has grown by over 28% and the company has shown great resilience through some very turbulent times."
Turnbull led the UK Civil Service between 2002 and 2005.
Bunbury, aged 65, is an experienced director of listed and private investment, property and financial services companies and trustee for high net worth families.
He is currently the Chairman of HarbourVest Global Private Equity and JP Morgan Claverhouse Investment Trust, a Director of Invesco Perpetual Select Trust, a consultant to Smith & Williamson and a former Director of Foreign & Colonial Investment Trust.
He began his career in 1968 at Buckmaster & Moore, before joining Smith & Williamson, Investment Managers and Chartered Accountants, in 1974 as a Partner.
MM
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