Cazenove Capital, the independent investment business, has appointed Chris Rice to head up pan-European equity, replacing Tim Russell, who is to step down from the role in July. Meanwhile, Steve Cordell has been appointed to manage core UK long/short products.

Russell has spent 26 years in the investment industry and is taking a career break, the firm said in a statement.

Both Rice and Cordell have been involved with the management of Cazenove Capital’s long/short products since 2003. Cordell joined the business Russell and Rice from HSBC in 2002.

David Docherty and Julie Dean will continue to be lead managers of the Cazenove UK Growth & Income Fund and the Cazenove UK Equity Fund respectively. 

Cazenove Capital focuses on three investment areas: UK and European equities, fixed interest and multi-manager. The investment funds business currently manages £4.5 billion ($7.4 billion) in assets, as at 31 March 2011.