MOVES-Lansdowne names top fund manager Roden as chairman

(Adds details, fund performance)

By Nishant Kumar

LONDON, Oct 16 (Reuters) - Lansdowne Partners will appoint one of its top portfolio managers Stuart Roden as chairman at the end of the year, the latest step in a reshuffle at the $17 billion hedge fund firm, according to a letter to investors seen by Reuters.

Roden, who joined Lansdowne in 2001 from Mercury Asset Management, is co-head of developed market strategy at one of the biggest hedge funds in Europe. He co-manages the strategy with colleagues Peter Davies and Jonathon Regis and will continue to work for Lansdowne full time.

In his newly created role, Roden will also help manage the firm's flagship Developed Markets Fund, mainly giving his input on risk-management and the funds' larger bets, Lansdowne told clients on Thursday.

The move follows a decision by Lansdowne's co-founder Steven Heinz earlier this year to step away from his day-to-day management of the firm. Paul Ruddock, who founded the firm with Heinz in 1998, also retired last year.

Roden will work closely with Alex Snow, founder of UK stockbroker Evolution, who joined Lansdowne as its chief executive last year.

Davies will become the sole head of developed market strategy, while Regis (NYSE: RGS - news) will be the deputy head.

Lansdowne's Developed Markets Fund has returned nearly 15 percent every year since its 2001 launch and is up 2.3 percent this year.

Andrew Honnor, a spokesman for Lansdowne Partners, declined to comment. (Reporting by Nishant Kumar; Editing by Laura Noonan and Keiron Henderson)