Employee-owned wealth manager London & Capital is targeting southern Europe for growth, and has appointed Armando Simões Silva as executive director, family office to spearhead its expansion there.

Simões Silva, who established Knightsbridge Portfolio Services, will be responsible for driving the development of L&C’s client base and presence in the region; in doing so he will make the firm’s infrastructure available to his own portfolio of high net worth clients.

Initially Simões Silva will be based at L&C’s head office in London – it also has offices in New York and the Isle of Man – and travel to visit clients, but it has committed to establishing a local presence in the Iberian region in the medium term, assuming that operations grow in line with plans, said Daniel Freedman, founding partner and joint managing director.

“As we exit one of the most challenging economic periods in modern history, London & Capital has turned its attention towards developing its institutional client base in Portugal and Spain – which have for many years been my principal territories… I am very excited over the prospects for and complementary fit of our new venture,” said Simões Silva.