The latest moves, appointments and personnel changes among wealth management and related organisations in the UK, the rest of Europe, the Middle East, Africa and select international locations.

Evelyn Partners
Evelyn Partners has appointed Bahador (“Bids”) Mahvelati as chief operations officer and a member of the group executive committee, effective in March. The appointment is subject to regulatory approval.

Mahvelati (main picture) will be joining the firm from PwC UK, where he is a strategy and operations partner, leading the financial services value creation practice. Prior to PwC, his experience has included hands-on operational roles at UBS Investment Bank and Natwest Group, as well as working for strategic consultancy firms.

At Evelyn Partners Mahvelati will lead cross-functional change programmes, client journey changes, tech, data, security, operations, M&A, strategy, and central services.

His appointment is a part of a planned transition following the decision by Mayank Prakash, group chief operations officer, that the sales of Evelyn Partners’ Professional Services and Fund Solutions businesses was an appropriate time to step down (see here and here.) Mahvelati has worked closely with Mayank over the last year in an advisory capacity to help shape Evelyn Partners strategy.

“Bids knows Evelyn Partners really well and, with his depth of experience in senior advisory roles and operations, and ability to bring both strategic insight and develop practical solutions, he is ideally positioned to help us deliver our transformation plans and achieve the next stage of our growth,” Paul Geddes, chief executive officer of Evelyn Partners, said. “I would like to thank Mayank for the immense contribution he has made to the business since joining us in 2020. This has included leading the operational integration of Tilney and Smith & Williamson, the creation of a modern and scalable financial services platform, the digitalisation of the business, enhancements to client experience, driving the growth of the Fund Solutions business and a great many other projects.”

Quilter Cheviot
Quilter Cheviot has hired Nicola Toyer as a director within its charities team.

Most recently, Toyer (pictured below) served as head of charities and previously as investment director at Investec Wealth & Investment UK. She also worked at Smith & Williamson, which has since rebranded to Evelyn Partners, starting as an investment manager and progressing to associate director.

Toyer will report to William Reid, Quilter Cheviot’s head of charities. As well as being responsible for managing charity investment portfolios, she will work closely with charity team colleagues across the firm’s regional network. As part of the specialist team, Toyer will support growth in Quilter Cheviot’s charity business by building new relationships with charities as well as promoting the Quilter Cheviot Global Income & Growth Fund for Charities.

Quilter Cheviot’s charities team, which provides investment services to over 650 charitable organisations, has also run the Quilter Cheviot Global Income & Growth Fund for Charities since 2020. The charity authorised investment fund invests across all assets and is designed to make accessing investments for charities less onerous and costly.

“She brings extensive experience in the charity sector and a deep understanding of client and portfolio management to share with colleagues. Nicola is highly regarded in the charity field and will provide vital support in promoting our services and capabilities as we continue to enhance our offering for our charity partners,” William Reid, head of charities at Quilter Cheviot, said.