Janus Henderson, the US-Australian fund house, has appointed Dick Weil as its sole chief executive, bringing the curtain down on a co-leadership structure with Andrew Formica that lasted just over a year.

The board of the $370bn asset manager, which was born out of the merger between Henderson Global Investors and Janus Capital Group in May 2017, said Weil had been chosen “based on a very rigorous process over several months, supported by expert advice from external consultants”.