Larcombe to retire

3i’s chief executive Brian Larcombe will retire from 3i at the next annual general meeting on July 7. Larcombe has been CEO since July 1997 and was finance director when 3i floated in 1994.

The firm is on the look out for Larcombe’s successor. The board believes there are strong internal candidates, but is also looking outside the company to ensure the best possible appointment is made.

Baroness Hogg, 3i chairman, said: “Brian has made a tremendous contribution to 3i during his 30 years here, and in particular during his last 12 years on the board. He has led the transformation of 3i from a largely UK focused business to Europe’s leading venture capital company. He has focused the business on clear product, geographical and sector lines putting 3i in great shape and delivering strong performance. The board and the staff hold him in the highest regard for his leadership.”