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Stoneware Capital LLP


Richard Rothwell, ASIP, FSIP
Managing Partner

Richard established Stoneware Capital LLP in 2006 to manage an offshore hedge fund. Since starting his career in 1985, he has accumulated broad expertise as an investment professional, developed over years of meeting corporate executives from around the globe, managing assets at three of the largest institutional fund managers, including being a member of the global investment policy committees of two of these firms, chairing CFA UK and acting as an expert witness:

  • (2020- ) Stoneware Consultants Ltd: Managing Director and Principal
  • (2006- ) Stoneware Capital LLP: Managing Partner and Chief Investment Officer
  • (2002-2006) Northern Trust: lead fund manager on Global ex-US equity product, for which performance rose to top decile and funds grew rapidly to US$1.6 billion; member of the firm's global Investment Policy Committee which allocated assets of more than US$600 billion
  • (1997-2002) Deutsche Asset Management: Emerging Market equities fund manager; member of the firm's global Investment Policy Committee which allocated assets of more than US$600 billion; member of the Pricing Committee for hard-to-value assets; set up and managed top-performing Emerging Market Select product
  • (1993-1997) Hermes Investment Management: analyst and fund manager in long/short equities, including North American, Emerging and Pacific Basin equities
  • (1985-1993) Arthur Andersen, London and Singapore: trainee chartered accountant to audit manager

Richard is a Fellow of the CFA Society of the UK ("CFA UK") and a past prize winner. He was appointed Non-Executive Chairman during 2012-2013 and Chaired the Nominations Committee; CFA UK promotes the highest ethical standards in the investment profession and supports members through the provision of continuing education, careers support and advocacy - with around 12,000 members in the UK, this is one of the largest member societies of the CFA Institute, which has more than 200,000 members globally (2022). CFA UK also runs the Investment Management Certificate, a leading entry level exam for investment professionals; whilst chairing the IMC exam panel, Richard oversaw its switch from being a paper-based exam to a computer-based exam.

In 1995, Richard was awarded the Wincott Foundation prize by Institute of Investment Management & Research (predecessor of CFA UK); and he qualified with the Institute of Chartered Accountants in England and Wales in after graduating in 1985 in Natural Sciences from St John's College, Cambridge University.

Richard is currently a director of Chapel Hill Denham UK Limited, a Non-Executive Advisor of Thornbridge Investment Management and Eschler Asset Management, and has been the investment manager responsible for a wide range of funds and asset classes. Chapel Hill Denham is the leading investment bank in Nigeria.

Richard has designed and delivered bespoke training materials on the subjects of equity valuation, portfolio management, hedge funds, UCITS, REITs and private equity for institutions which include the Securities and Exchange Commission of Nigeria, Securities and Exchange Commission of Ghana and clients of Cass Business School. He has been a speaker at a range of events, hosted for example by CAIA, CFA UK, Cass Business School, London School of Economics, "Battle of the Quants", Hedge Funds World Africa in Cape Town and HFM; he has also been a contributor to Evalueserve's "Circle of Experts".

From 1999-2017, he was a founding trustee of SHINE, a leading charity which helps in the education of disadvantaged children. He is currently a founding trustee of The Choral Foundation at The Chapel Royal, Hampton Court Palace.

Until recently, Richard was Chairman of The Escorts Squash Rackets Club. Founded in 1933, the members include two world amateur champions and a British Open champion. Richard has played squash in almost 30 countries and it remains a passion, albeit in a less active role now.

Richard was appointed as the expert witness in two significant cases in the Upper Tribunal, Tax & Chancery Chamber in 2014 and the High Court, Commercial, Ireland, 2019, which was settled during mediation. He has also provided expert opinion for a number of other disputes or complex valuations.

Anna Davydova
Partner, Investor Relations and Marketing

Anna previously worked at Cigna Investment Management as an Emerging Market equities analyst specialising in research in EMEA region.

She graduated from Moscow State Academy of Management, Russia with a BA in Industrial Management; gained an MSc in International Banking and Financial Studies from Southampton University, UK and an MBA in finance (with distinction) from Cass Business School, London; Anna holds an Investment Management Certificate, awarded by CFA UK. Anna has recently been training as a psychotherapist at the prestigious Metanoia Institute in London.

Anna is fluent in English & Russian.

Stoneware Capital LLP is authorised and regulated by the Financial Conduct Authority and appears on The Financial Services Register under no. 451073. The investment products and services of Stoneware Capital LLP are only available to professional clients and eligible counterparties. They are not available to retail (investment) clients. Past performance should not be seen as an indication of future performance. Investment in one of our products carries risks which are more fully described in the respective offering document.

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