Sheffield Howarth, the executive search firm, has announced that Tim Sheffield, CEO and founder of of the firm, moves to become executive chairman.

Sheffield Howarth, the global executive search firm, has announced that Tim Sheffield, CEO and founder of of the firm, moves to become executive chairman. Mike Hammond, who joined the business last June as group managing director, takes over the helm as chief executive.

Patrick Morrissey, co-founder and group managing director, will become deputy chairman and chairman of asset management.

The announcement comes shortly after the firm said that the founder and chairman of its India business is relocating to the US as part of a drive to link business opportunities between the countries. Deepak Verma, also vice chairman, Americas, will work with Sheffield Haworth’s multinational clients across retail financial services and insurance. He is moving to New York.

Meanwhile, in November 2013, the firm intensified its focus on the wealth management sector in the Americas with the addition of Jane Swan as managing director.