Joint MD Day quits Thornton

Christopher Day has quit as joint managing director of Thornton Management amid disagreement over the future direction of the company.

Thornton, a specialist investment company with about $2.4 billion of its $3 billion invested in Asia, is being merged with Kleinwort Benson Investment Management and RCM Capital.

The Thornton Group is part of German financial services giant Dresdner Bank.

Mr Day's departure is believed to be linked to a disagreement about the future management style of the enlarged company, sources said.

Mr Day was unavailable for comment.

He had worked with Thornton for about six years and was instrumental in developing its specialist Asian character.