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It should come as no surprise that Magda Wierzycka has handed over day-to-day responsibility for Sygnia to her heir apparent, David Hufton, who has already been joint CEO for about a year.

There is undoubtedly scepticism in the market about her new role as "nonexecutive director". But she says Hufton and the executive team will have complete freedom to do what they consider best, and she won’t be calling the shots from the sidelines — "that is not my style"...

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