Ken Lyall, the first employee of Walter Scott & Partners and its chairman since 2007, has died aged 64.
He joined the firm soon after it was founded by Walter Scott and two colleagues in 1983, having worked for several years with Arthur Andersen in Glasgow and London.
Dr Lyall had a PhD in financial economics from Edinburgh, having graduated in economics and economic history.
Founder Dr Scott stepped down in 2007 soon after he had sold the firm to BNY Mellon for a reported £400 million, saying it was time to hand over to Dr Lyall, who is a former trustee of the David Hume Institute.
The firm, the first Scottish boutique to specialise in global fund management for US institutions and renowned for its high rewards, manages £30 billion of assets and increased profits by 25% to £94m last year.
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