The corporate raider Edward Bramson stood down as chairman of F&C Asset Management yesterday, amid speculation he could attack private equity group 3i.
Mr Bramson will leave F&C almost three years after leading a boardroom coup. He will be replaced with by Kieran Poynter, former chairman of PricewaterhouseCoopers.
The move comes just days after his Sherborne Investors unveiled plans to hand part of its 20 per cent stake in F&C to its own backers, including Aviva Investors.
Mr Bramson also has also built up a 5 per cent stake in 3i. Some City sources reckon he wants to lead a break-up of the group.