Fundsmith LLP (‘Fundsmith’), the fund management company founded by Terry Smith, announces the appointment of Paul Mainwaring as Chief Financial Officer.
Paul will join Fundsmith on 4th January 2021, taking over from current CFO Simon Godwin who is retiring from the firm. Simon is a Founding Partner of the firm and will be working closely with Paul to effect an orderly handover of responsibilities. Simon will also continue in the role of Chief Compliance Officer until a replacement is appointed.
Paul was previously CFO at IG Group Holdings Plc, Group Finance Director at Tullett Prebon Plc, Group Finance Director at Mowlem Plc, and Group Finance Director at TDG Plc. Paul started his career with Price Waterhouse in London. He received an undergraduate degree from the University of Leeds and an MBA from Cranfield School of Management.
Terry Smith, Founder and Chief Executive of Fundsmith, said:
“Since helping to found Fundsmith in 2010, Simon has made an enormous contribution to the firm’s growth and I would like to thank him for his dedication and hard work. We all wish him the very best.
I’m delighted to welcome Paul Mainwaring to Fundsmith. He is an extremely capable CFO, something I have first-hand experience of from our time working together at Tullett Prebon, and I look forward to working with him again.”
For further information please contact:
Charlotte Balbirnie, +44 (0)7989 528421, [email protected]
Caroline Villiers, +44 (0)7808 585184, [email protected]
Fundsmith is focused on delivering superior investment performance at a reasonable cost. It was established to be different from its peers so as to achieve a different result in line with Sir John Templeton’s axiom that “If you want to have a better performance than the crowd, you must do things differently from the crowd.” The rigorous research process of Fundsmith is central to what we do. We apply exacting standards to potential investments to produce a portfolio of resilient businesses with excellent performance. Minimising the costs we incur on behalf of our customers in implementing our strategy also sits at the heart of our philosophy.
Fundsmith was established in 2010 by Terry Smith. The business is owned and controlled by its partners, who have worked closely together over many years, and is headquartered in London with offices in Mauritius and Connecticut, USA. It is structured to survive Terry Smith’s demise and continue with the same investment philosophy. All partners of the firm have a significant coinvestment in our Funds delivering a clear alignment of interest. Ancillary activities are outsourced to some of the world's leading providers in order to deliver high quality operations whilst allowing the Fundsmith team to focus on the investment analysis and portfolio management and customer care.