Stephen Couttie stepped down as chief executive with immediate
effect just two years after taking up the post, to be replaced
by his chief operating officer Charles Kirwan-Taylor.
Mr Couttie's failure to prevent the continued outflow of funds
from RAB Capital since taking over as chief executive in
September 2008, is believed to have been a factor behind his
resignation.
In the first six months of this year, assets under management at
RAB Capital fell by $90m (£58m) to $1.26bn, having fallen by
$550m in 2009.
Michael Alen-Buckley, executive chairman of RAB Capital, said Mr Couttie had made a "number of significant contributions" to the business, adding that he would continue to work for the firm as an adviser "for some time".
RAB Capital was hard hit by the financial crisis and from assets of $7.2bn at the end of 2007, the firm was hit by massive outflows during 2008 that saw its total funds fall to less than $2bn 12 months later.
Mr Kirwan-Taylor joined RAB as an executive director at the same time as Mr Couttie replaced Philip Richards as chief executive and is an experienced financier having held senior jobs at Credit Suisse.
