Cato Stonex, the last of the three founders of storied UK investment boutique Taube Hodson Stonex, is to leave GAM, the Swiss asset manager he and his fellow principals sold their firm to last May.

Stonex is leaving alongside a colleague, Mark Evans, another of the boutique's four principal fund managers. In a statement to FN, a GAM spokeswoman said the pair had "decided to retire from institutional fund management and pursue other interests".