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You're hired! 20 wealth and fund moves in November

As the year drew to a close, the wealth and fund industry saw some huge movement in November.

Charles Stanley Manchester six exit in pay dispute

Six senior investment managers from Charles Stanley’s Manchester office had their contracts terminated following a dispute with management over renumeration.

Alongside office head Paul Lawrence, senior investment managers Jon Goldstone, Jeremy Rogers, Don Godwin, Philip Hull and John Wood left the firm.

Jonathan Baker, Charles Stanley’s Leeds head, has relocated to head up the Manchester branch for the medium term, with Simon Martin taking responsibility for the Leeds office.

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Charles Stanley Manchester six exit in pay dispute

Six senior investment managers from Charles Stanley’s Manchester office had their contracts terminated following a dispute with management over renumeration.

Alongside office head Paul Lawrence, senior investment managers Jon Goldstone, Jeremy Rogers, Don Godwin, Philip Hull and John Wood left the firm.

Jonathan Baker, Charles Stanley’s Leeds head, has relocated to head up the Manchester branch for the medium term, with Simon Martin taking responsibility for the Leeds office.

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Quilter 24 to reunite with Cheviot founder Kerr-Dineen

Cheviot Asset Management founder Michael Kerr-Dineen made a dramatic return to the industry, recruiting 24 staff from Quilter Cheviot for his newly launched wealth firm.

Kerr-Dineen (pictured) will chair the company, Vermeer, with former Collins Stewart CEO Simon Melling to serve as chief executive.

The hires include the support staff of the 12 ex-Cheviot investment managers who had left Quilter Cheviot, whose names were revealed by Wealth Manager in October.

 

 

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Smith & Williamson raids Quilter Cheviot for Glasgow hire

Another exit from Quilter came with Smith & Williamson's hire of Michael Montgomery as an associate director in Glasgow.

Montgomery had been with Quilter Cheviot since 2007, where he worked as an investment manager.

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Rathbones appoints chief executive as Howell steps down

Rathbones chief executive Philip Howell (pictured) is to retire next year with the role passing to long-serving finance director Paul Stockton, who was promoted to managing director of the private client wealth arm in May.

Stockton joined the company in 2008. He will head Rathbones following Howell's formal departure in May, with the two working on a handover basis in the interim.

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ASI multi-asset boss Guy Stern to retire; Schroders' Forest hired

Aberdeen Standard Investments' (ASI) multi-asset head Guy Stern is retiring

Stern (pictured left), whose duties include leading the firm's flagship Gars strategy, will be replaced by Aymeric Forest, who joins the firm from Schroders at the start of next year to lead ASI's £140 billion multi-asset team.

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 GAM CEO Alexander Friedman exits

GAM chief executive Alexander Friedman (pictured) lost his job after a tumultuous few months for the asset management firm.

The news follows the suspension of absolute return fund manager Tim Haywood earlier this year, which has put the business under immense pressure. 

Board member David Jacob has been appointed interim CEO while the search for successor is conducted.

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Brooks Macdonald managing director to exit

Nick Holmes, managing director of Brooks Macdonald's UK investment business, stepped down from the board on 30 November as he prepares to leave the firm after 22 years.

Following Holmes's departure at the end of the 2018, the UK investment management business will be co-led by Robin Eggar and John Wallace.

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Barclays Wealth signs Scottish rugby international

Barclays Wealth Management hired 48-cap Scotland rugby international Allister Hogg as a wealth manager in its Newcastle office.

Hogg (pictured) joined the firm after leaving professional rugby union to pursue a career in wealth management, previously spending two years as an investment manager at wealth platform True Potential.

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7IM says goodbye to one of its 'original seven'

One of Seven Investment Management’s original seven founders, David Carroll, is set to leave the business.

Carroll, head of strategy at the firm, helped found the business in 2002 after five years as a senior adviser at Barclays Wealth. He also worked at Prudential and A&R Equity in a career stretching back to 1987.

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Faulkner exits Psigma after six months to open Raymond James office

Former Wealth Manager cover star Daniel Faulkner left Psigma after just six months to join Raymond James’ aggressive regional push.

Faulkner (pictured) has joined Raymond James to open a branch in Droitwich Spa, Worcestershire. It is the fifth new outpost that the company has added this year, taking its nationwide total to 62.

He had been recruited by Psigma earlier this year to work out of the firm’s Birmingham branch, having previously co-founded Rathbones' Birmingham office in 2008.

 

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Deutsche poaches Tilney partner to head financial planning

Deutsche Bank’s wealth management arm poached Tilney partner Nick Reeves as head of financial planning as it continues its expansion in the UK.

Reeves (pictured) will join in January 2019 after five and a half years at Tilney, where he was a private client partner for financial planning, and will be based in London.

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Smith & Williamson funds boss Ed Rosengarten to exit

Smith & Williamson funds boss Ed Rosengarten is leaving the business to 'pursue other business ventures'.

Rosengarten (pictured), who was also a partner at the firm, gave up his controlled functions at S&W on 5 November.

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BlueBay co-founder raids BlackRock for bond ‘disruptor’ boutique

BlueBay Asset Management co-founder Hugh Willis raided BlackRock’s quant team for his new boutique designed to shake-up bond investing, BlueCove.

Benjamin Brodsky, who has been appointed head of investment research and portfolio management at the business, is one of five BlackRock managing directors to make the switch. The others include Ralph Smith, Michael Harper, Benoy Thomas and Heather DeGarmo.

Robeco’s Jeroen van Zundert joins as a quantitative researcher, while Nick Pierce, formerly head of fixed income in Europe for Vanguard, has been appointed head investment process at the business.

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UK's newest private bank makes key hire from the oldest

The UK's newest private bank made a senior hire from a rival that dates back to 1672. 

Hampden, which opened for business in June 2015, has hired Allison McCowan (pictured right) from C Hoare as a director, specialising in providing lending solutions to private clients.

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Snowden exits Kames in latest blow to bond team

Kames’ co-head of fixed income, Stephen Snowden (pictured), is to exit the firm in a further blow to the team following the 2017 departures of Phil Milburn and David Roberts.

Head of high yield David Ennett and fund managers Stephen Baines and Juan Valenzuela are also set to leave the business.

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 UBS hires Coutts veteran to lead UHNW team

UBS Global Wealth Management hired Adrian Jones as a managing director and client adviser in its ultra high net worth (UHNW) team.

Jones joins from Coutts, where he was head of the firm's international business in Europe and Americas and spent 30 years working with high profile clients across  sectors including sports, entertainment and – most recently – the Coutts Crown Dependencies businesses.

 

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Walker Crips veterans jump ship to stockbroker Optiva Securities

Three Walker Crips veterans joined specialist stockbroker Optiva Securities as it expands into the private client market.

Robert Regan, Fraser Moyes and Clifford Garcka, who have all been with Walker Crips for over 20 years, will be working as part of a team led by Mike Garnett who joined Optiva back in 2016 to set up its discretionary arm.

 

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Family office founder joins fledgling private office

A new Jersey-based private office made a key double hire a week after opening for business. 

Among the hires for JTC Private Office is Rebecca Bettany (pictured), who moves from Pall Mall Family Office, which she co-founded. In her new capacity she will oversee the day-to-day running of the business as a senior director. 

Meanwhile, Karen O’Hanlon joins as a private client-focused senior director after a recent spell as managing director of First Names’ Singapore business.

 

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Tilney boosts Glasgow office with Smith & Williamson hire

Tilney appointed Neil Joss as a senior investment manager at its Glasgow office.

Joss joins from Smith & Williamson, where he has worked since 2008. Most recently he was an investment manager, after serving as an operations manager at the company. 

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Rathbones boost multi-asset team with ex-Barclays man

Rathbones  bolstered its multi-asset team, hiring Craig Brown from Beckett Asset Management as an investment specialist.

Brown (pictured), who will report into the firm’s head of multi-asset investments David Coombs, will be responsible for client relationship management, working with Rathbones’ distribution and marketing teams.

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