The chief executive of JO Hambro Capital Management, a £31bn UK fund manager,  has stepped down after only 22 months in the job — despite good business performance at the firm.

Ken Lambden, a former chief investment officer at Barings, took the top job at JO Hambro in October 2016. He succeeded Gavin Rochussen, who went on to become head of the international business at JO Hambro’s parent company, the Australian fund manager Pendal Group.