W.P. Stewart & Company Limited announced yesterday that Alex Farman-Farmaian and Peter Jennison both members of the US equity portfolio management team have left the company to pursue their investment business interests at another firm. While disappointed with these resignations, the company said it was fully confident in its business strategy of providing premier equity investment management services to its clients on a worldwide basis.

The current US equity investment team under the direction of Harry Segalas, chairman, CEO and chief investment officer of its US investment advisory affiliate, is well positioned to continue the distinctive and disciplined W.P. Stewart investment philosophy.

Henry Smith, president and chief executive officer of W.P. Stewart said: ?It is always disappointing when employees who have been with you for many years decide to move on but it is not unusual in our industry.

?The company has made a number of strategic and tactical moves over the last few months that we feel strengthen our future prospects.?

?We will focus on what has to be done in light of these resignations and work hard to maintain our excellent long-term investment track record and continue to develop our global client service and marketing initiatives.?