Paulo Almeida, among the highest-profile chief investment officers in the shipping world, has stepped down from Tufton Investment Management.

London-listed Tufton Oceanic Assets announced the departure as it said Nicolas Tirogalas will take over the role at its investment management company.

Almeida left the firm to spend more time with family, as well as on part-time interests that include private investments and nonprofit work, the company said in a stock exchange announcement.