Jamie Korner, head of charities at investment firm Newton, has announced that he will retire at the end of September, after 16 years at Newton, and some 28 years in the City.

A letter to clients, seen by civilsociety.co.uk, said Korner’s personal circumstances led him to conclude that he could not continue to work on a full-time basis.

Andrew Pitt, head of charities at UBS, will replace Korner at Newton in September. Also, Paul Mitchell, also from the charities team at UBS, will be joining Newton in August.