The chief executive of Kames Capital, a UK fund manager looking after £37bn, has announced he will step down.

Martin Davis joined the Aegon-owned investment manager six years ago from the fund supermarket Cofunds, where he was chief executive. Prior to that, Davis worked at Zurich Insurance Group for eight years and held senior roles at financial technology company Misys, software business Corillian and news provider Reuters, according to his company profile.