Rory McIlroy has has left Horizon Sports Management and has set up his own company to manage his affairs.

The former world number one golfer's interests will now be looked after by Rory McIlroy Incorporated (RMI).

In a statement, McIlroy said he had appointed Donal Casey, an actuary by profession, as the company’s first CEO.

Meanwhile, the existing Rory Foundation for charity will be run by Barry Funston, an entrepreneur and longtime

friend of the McIlroy family. Both men will serve on the RMI Board, together with Rory’s father Gerry McIlroy.

McIlroy is the second British high profile sportsman to set up a management company to take care of their commercial interests. Earlier this month, Wimbledon champion Andy Murray set up a company called 77 to look after Murray and his brother Jamie's interests on and off court.