Tom Lamb is stepping down from his position as co-head of Barclays Private Equity, Real Deals can exclusively reveal.
Paul Goodson will take over Lamb's role and will be jointly responsible for the day to day operations of the business alongside Gonzague de Blignieres and Peter Hammermann.
Lamb will continue to work with Barclays in a part-time role and will continue to chair the investment committee.
“This is all part of smooth succession planning,” Lamb told Real Deals.
LPs were informed that he was planning to step back when the firm's third fund, which closed on €2.4bn in September 2007, was being raised.
The move has taken place earlier than expected however, because of the speed at which the fund has been deployed.
“Investors have always known what was happening, so there have been no surprises,” said Lamb. “We are close to 40 per cent invested and now seemed like the right time.”
He added that he intended to maintain his part-time role for the forseeable future.
Lamb's withdrawal from the day to day running of Barclays Private Equity co-incides with the retirement of Barclays' head of investor relations Brian Blakemore.