The chief executive of Fleming Family & Partners, the UK-based multi-family office firm, is to step down at the end of August, FF&P said.

Gavin Rochussen, the departing chief executive, will hand over his responsibilities to Mervyn Davies, who will assume the role of executive chairman while a new chief executive is recruited, a spokesman for the firm said. FF&P did not give a specific target date for when a new chief executive will be appointed.

“After an enjoyable and fulfilling period of growth and development for FF&P, it is right that new leadership is introduced for the next phase of FF&P’s journey. Mervyn brings a new dimension of energy and ideas,” Mr Rochussen said.

Mr Rochussen’s tenure has coincided with almost all of the period FF&P has operated since it was created to oversee the wealth of the Fleming family dynasty, famous for its ancestors such as Ian Fleming, the creator of James Bond. The family sold its Robert Fleming investment banking business to Chase Manhattan bank in August 2000.

The firm has offices worldwide, including Hong Kong and Liechtenstein. FF&P is one of a relatively small number of multi-family offices in the UK, such as Stanhope Capital, Sand Aire and Lord North Street.