Paulo Almeida, among the highest-profile chief investment officers in the shipping world, has stepped down from Tufton Investment Management.
London-listed Tufton Oceanic Assets announced the departure as it said Nicolas Tirogalas will take over the role at its investment management company.
Almeida left the firm to spend more time with family, as well as on part-time interests that include private investments and nonprofit work, the company said in a stock exchange announcement.
His LinkedIn profile shows that he spent nearly 15 years at the company, rising from a portfolio manager role. The profile has been updated to show that he has stepped down as CIO, but it says he remains a shareholder at Tufton.
“He has played an integral role in transforming Tufton into the leading maritime fund manager that it is today,” said Tufton Investment chief executive Andrew Hampson.
“I am sure that Paulo will continue to make meaningful contributions to his chosen charitable work, and we wish him all the best in these endeavours and any further challenges he decides to take up.”
Tirogalas has spent 15 of the last 25 years in shipping and offshore.
He is the former managing director of Christos Economou’s TMS Cardiff Gas. As executive vice president of father George Economou’s TMS Group, he was involved in investments and capital raises in dry bulk, tankers, container ships, LNG carriers, LPG carriers and offshore, Tufton Oceanic said.
“Nicolas brings with him a wealth of hands-on investment and management experience across a wide spectrum of maritime industry segments,” said Hampson.
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