Dexion Absolute chairman Peter Walsh is planning to step down from the board and will be replaced by John Hallam, a non-executive director of the listed hedge fund.

The move follows Walsh’s decision to retire from the industry, having sat on the board of the company since its incorporation in November 2002. He is perhaps better known as the former managing director of Baring Asset Management Holdings.

Hallam, meanwhile, will officially take over as chairman of Dexion Absolute at the end of November, having been a non-executive director since incorporation and has since taken on the role of senior independent director. The former PricewaterhouseCoopers partner is also chairman of the Cazenove Absolute Equity trust and Partners Group Global Opportunities, and is a director of a number of other financial services companies.

Trevor Ash will also join the board as a senior independent director of the company at the end of November, having been a non-executive director since incorporation. He also chairs the management engagement and remuneration committees.

Meanwhile, Sally-Ann Farnon and William Collins are also set to join as non-executive directors at the end of November. Farnon, who has also been appointed chairman of the audit committee, is a commissioner of the Guernsey Financial Services Commission and a non-executive director of a number of property and investment companies, including Standard Life Investments Property and Income Trust and Bailiwick Investments. 

Collins is a director of private clients with Bank Sarasin and was formerly managing director of Baring Asset Management.