Kenny joined Smith & Williamson in 1997 and has most recently been managing the £464 million ($704 million) Short-Dated Corporate Bond Fund and Medium-Dated Corporate Bond Fund. Based in London, he succeeds Chris Lynas who has been has been with the company for 25 years and is now retiring from the industry.

“We would like to thank Chris for his immense contribution to the Fixed Interest funds at Smith & Williamson and in particular for his role, with Ian, in making the Short-Dated Corporate Bond Fund the success that it is today. We wish him well for the future,” said Ed Rosengarten, partner and head of the company's funds business.

In its recent results statement for the year to the end of April, Smith & Williamson posted an adjusted operating profit of £41.1 million, up 14 per cent from the previous year, thanks in part to the growth of its investment management and banking division.