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Summary Of Executive Moves For August 2016

Tom Burroughes, Group Editor , 4 October 2016


August is a holiday month in certain regions, but it was not quiet in terms of moves and appointments in the world's wealth management sector.


Hawksmoor hired Greg Sellers and Finbarr O’Mahony from Brewin Dolphin as managers within its office in Taunton, Somerset. The pair were reunited with their former Brewin Dolphin colleagues, who joined Hawksmoor last summer to spearhead the launch of its Taunton office, which is headed by Andrew Foster.

Kames Capital appointed David Ennett from Standard Life as head of high yield, while Phil Milburn returned to the company as head of fixed income investment strategy after a period of ill health. Ennett joined from Standard Life Investments where he was head of European high yield and manager of the SLI Higher Income and European High Yield Funds. Ennett and Milburn co-manage the Kames High Yield Bond and the Kames High Yield Global Bond funds, with Milburn leading the former and Ennett the latter. Stephen Baines remains support manager on both funds. They both report to Kames’ head of fixed income, David Roberts.

City Asset Management appointed Stephen Ford, Brewin Dolphin’s former head of investment, to its senior management team. City did not give details of Ford’s new role but mentioned his name as part of several high-level appointments by the business, including that of former Bank of England advisor Robin Blunden as non-executive director.

Smith & Williamson hired Grant Hotson to replace Jeremy Boadle as group financial director. Boadle left the firm after more than 30 years there. Hotson, an accountant with over 18 years of experience in the financial services sector, provided consulting services for the past year. Previously, he was chief financial officer and member of the executive team at Ignis Asset Management before it was acquired by Standard Life Investments. He has also worked at Scottish Widows Investment Partnership and PricewaterhouseCoopers.

Based in London, Hotson joined the main board of Smith & Williamson and will sit on the firm’s subsidiary boards relating to the tax and business services and the investment management and banking divisions. Boadle became a partner at Smith & Williamson in 1986 and spent 11 years on the main board. 

The Financial Conduct Authority hired Michael Welch, head of Standard Chartered’s internal investigations unit and a veteran of the US Federal Bureau of Investigation, as its new director of retail and regulatory investigations. Welch was most recently Standard Chartered’s group head of shared investigative services, having moved to London with the bank in 2014 after 30 years with the FBI, where he ran international operations. He replaced Tom Spender, who left the FCA in June to join Lloyds Banking Group, and reports to Mark Steward, the watchdog’s director of enforcement and market oversight.

Charles Stanley appointed Adam Martell as an investment advisor and wealth manager within its Leeds office. Martell joined from Brewin Dolphin in Newcastle, where he worked in a team managing investment portfolios for a range of charities, organisations and private clients.

Julius Baer recruited a handful of private bankers from HSBC to grow its Latin American business. The bankers are based in Monaco and Switzerland. In July Alain Ucari was appointed as chairman of Julius Baer in Monaco, with Albert Henriques from HSBC replacing him as chief executive of the Monaco business. Additional bankers were set to join Henriques in Monaco, including a dedicated LatAm team. 

LGT Vestra appointed Michael Moss to the newly-created role of business development director. Moss joined from Quilter Cheviot where he was a business development director for five years, working with intermediaries across Southern England. Previously, he was a business consultant at Zurich Intermediary Group for six years. Moss is based in Bournemouth.

Julian Cooper, a former managing director at Barclays Wealth & Investment Management, joined Julius Baer International as senior client relationship manager. Cooper, based in London, left Barclays Wealth & Investment Management earlier this year after 23 years there. During his time at Barclays, he led the entrepreneurs team and served as a board director of Barclays Private Bank. He previously worked at NatWest Markets as head of transaction management. 

Julius Baer also hired Patricia Newton to support Cooper. She brings 30 years’ experience, having worked in a variety of roles at Barclays. Meanwhile, Christian Rasmussen joined from Lombard Odier as a relationship manager. Cooper, Newton and Rasmussen report to Annabel Bosman, the bank's head of relationship management, UK.

Kames Capital hired Martin Weiss as business development manager within its European wholesale distribution team. Weiss, a native German speaker, joined from Pioneer Investments. There, he was a client and sales relationship manager responsible for German, Austrian and Italian clients and prospects. Previously, he held client relations roles at Legal & General Investment Management and Hermes Fund Managers. Based in London, Weiss reports to Richard Dixon, head of Continental European wholesale at Kames.

Meanwhile, Kames also hired Robin Black as an investment manager within its Edinburgh-based equities team. Black joined from Macquarie, where he was managing director in the Hong Kong division from 2010, responsible for global sales of pan-Asian equities. 

Rathbones appointed Sanjiv Tumkur to the new role of head of equity research. Tumkur joined from Investec Wealth & Investment, where he was a senior equity analyst, primarily covering large caps across the UK, Europe and the US. He has 20 years of experience in research and fund management, having previously worked for Morgan Grenfell (later Deutsche Asset Management) and Alliance Bernstein. Based in London, he reports to Elizabeth Savage, the company’s head of research.

Brooks Macdonald appointed Ben Mackie as an investment director within its Taunton office. Mackie joined from Charles Stanley, where he was a portfolio manager. In addition to managing private client portfolios, he was part of the company’s investment strategy committee and structured product team. He previously worked at Barclays Wealth and Butterfield Private Bank.

Royal London Asset Management expanded its global high yield team with the appointments of a new fund manager, a senior credit analyst and two assistant credit analysts, in preparation for the launch of its Multi Asset Credit Fund. 

Khuram Sharih was appointed as fund manager, focusing on leveraged loans and alternative credit. He joins from Newton Investment Management, where he worked within the fixed income and global multi-asset teams. He was previously a senior credit analyst at Cairn Capital.

Sebastien Poulin joined as a senior credit analyst, focusing on both high yield and leveraged loans. He was previously at Principal Global Investors where he covered high yield and leveraged loans. He previously worked at Newton Investment Management.

Meanwhile, Gary Ewen and Tom Elliott serve as assistant credit analysts. Ewen was an investment analyst at Mercer and Elliott was a high yield credit analyst at Debtwire.

Smith & Williamson promoted Luke Brooks, Rebecca Shepherd and Chris Springett and Tim Adams to partner. Brooks specialises in advising partners in law firms, sportspeople and entrepreneurs on their financial planning needs. Shepherd, who manages a range of investment portfolios including those of individuals and pensions, was made partner of Smith & Williamson Investment Management. She provides coverage of the healthcare sector and reviews ethical and environmental pooled funds.

Springett was promoted to partner within the private client tax services team. He specialises in providing advice to executives and high-paid partners. Adams, a founding member of Smith & Williamson’s Entrepreneurs Group, serves as partner within the assurance and business services division. He specialises in providing commercial, financial and strategic advice, as well as audit and accountancy services.

Cohen & Steers, the US-based firm, appointed James Cahill to its London office as head of funds and sub-advisory sales for Europe, the Middle East and Africa, a new position. Cahill has 28 years of experience in the asset management industry, joining from Principal Global Investors, where he was director of European fund distribution. 

The Consulting Consortium, a compliance specialist, added to its teams, hiring Matt Hodey and Andy Sutherland as director of strategy and markets, and managing director of advisory services, respectively. Hodey previously worked at Deloitte where he was director of its UK risk and regulation practice. He has over 17 years of industry experience in financial services risk and regulation, including previous roles at Barclays and Nationwide. Sutherland joined from Huntswood, where he was director of regulatory consulting. Prior to this he spent four years working within the regulatory advisory practice at EY and also spent six years working as an independent contractor.

WH Ireland appointed Marc Cane as group head of compliance and risk. The roles are new ones for the business. Cane previously worked at Ingenious Media, holding the group compliance officer role and that of money laundering reporting officer (MLRO). He also held a number of senior roles at JP Morgan and Permal Investment Management. Cane reports to Richard Killingbeck, the firm’s chief executive.

Rathbones appointed Martin Lunt to the newly-created role of chief information officer. Lunt, based in Liverpool, had been at KPMG CIO Advisory Group where he was a director. He previously worked at ICI, AstraZeneca, Getronics and Barclays.

Crestbridge appointed Paul Windsor to the post of managing director and head of its London office. Windsor, who joined Crestbridge last year when the firm opened its London office, oversees UK-focused business development activity, growth strategy and performance. He has over 30 years of real estate accounting and tax experience, having served as a partner at WSM. He took over from Steven Morrice who is leaving Crestbridge to become a consultant.

Brown Advisory hired Nicholas Taylor and James Tussaud as private client portfolio managers. Taylor joined from Connor Broadley where he was a partner and investment manager. Previously, he worked at BlackRock in London. Tussaud joined from Citi Private Bank, where he was responsible for ultra-high net worth clients focusing on London, Jersey and Geneva. Before Citi, he held roles at UBS Wealth Management and Barclays Capital.

Woodford Investment Management appointed Samuel Lynes as a client relationship manager in London. Lynes joined from M&G Investments where he worked for 14 years, a decade of which he spent as business development director for London. He was also an assistant fund manager to the firm's UK and UK smaller companies team. He replaced Simon King, who left the company in May to join T Rowe Price.

Northern Trust hired Ian Hamilton to drive asset servicing sales across sectors including pension and sovereign entities in the UK, Europe and Africa. Hamilton joined after almost seven years with State Street, where he was head of asset owners and European head of consultant relations. He previously worked at Mercer Investments.

AXA Investment Managers appointed John King to the AXA IM Framlington UK equities desk as assistant portfolio manager. King has spent the last six years working in UK equity sales, first at N+1 Singer, then at UBS and most recently at Jefferies, where he was a senior vice president in the UK equity sales team. Previously, he spent five years at Ernst & Young as a senior consultant. He reports to George Luckraft, head of UK equities at AXA IM.

Allfunds Bank hired an investment analyst from GAM, Yusuf Durmaz, within its fund research team. Durmaz had spent after almost five years with GAM, where he was involved in fund research and selection in the hedge and long-only universe. Before GAM, Durmaz was an analyst at Credit Suisse. Prior to that, he was a senior quantitative analyst at Clontarf Capital.

SEI appointed Kevin Russell to the newly-created role of proposition director within its UK private banking executive management team. He has over 30 years of wealth management experience, of which 26 were spent at Standard Life, most recently as head of platform and e-business development. During the last five years, he worked in a number of consultancy and advisory roles, including at SEI.  Based in London, he reports to Brett Williams, managing director of SEI Wealth Platform, UK private banking.

Kempen Capital Management UK, part of Netherlands-headquartered Kempen & Co, appointed former PricewaterhouseCoopers consultant Nikesh Patel as senior investment strategist in London.

Previously, Patel was an investment consultant at PwC. Prior to this, he was a relationship manager for a portfolio of BlackRock UK pension funds and EMEA-based multinational clients. He began his career at Mercer’s investment consulting business.

European Wealth appointed John Morton, formerly executive chairman, as chief executive. Morton took over from Rod Gentry, who left the company he helped to found earlier this year. Kenneth West, a non-executive director, was named as non-executive chairman as part of the changes. West is a senior non-executive director at AIM-listed telecoms company Norcon, and a director of the telematics group Pinnacle Plus Holdings. He was previously chairman of wealth manager Ashcourt Rowan and GAB Robins, a loss-adjustment group. Simon Ray, chief operating officer at European Wealth, was appointed as an executive director. He was previously head of Aventus Capital Management, and has over 20 years’ experience in the wealth management industry.  He joined European Wealth as part of the acquisition of Aventus in 2011.

International law firm Proskauer appointed Vikki McKay as a partner in its private equity real estate group in London. She previously worked at DLA Piper. McKay’s practice focuses on UK and cross-border investments in the real estate sector for private equity firms, large international companies and ultra-high net worth offshore individuals.

Former AXA executive Nicolas Moreau was appointed to the helm of Deutsche Asset Management. Moreau left French insurer AXA at the end of June after 25 years at the group. He was most recently chairman and chief executive of AXA France, having previously led AXA’s businesses in the UK and Ireland and served as chief executive of AXA Investment Managers. Based in London, Moreau succeeded Quintin Price, who stepped down in June for health reasons. 

Mark Hirst, chief executive and global head, trust and fiduciary services at ‎Standard Chartered (Switzerland), is leaving the UK-listed bank later this year. He joined the bank’s Geneva office in 2012 as regional head of private banking before taking the helm of the Swiss business. 

Rest of Europe

BNP Paribas Investment Partners appointed Claus Hecher to the newly-created role of head of business development for Germany, Austria and the German-speaking regions of Switzerland. He was previously a consultant to Natixis Global Asset Management, where he advised on exchange-traded fund sales. Based in Munich, he is responsible for developing BNP Paribas Easy, BNP Paribas Investment Partners’ exchange-traded fund and indexed solutions franchise, with German-speaking investors, institutions and distribution networks.

The Guernsey Financial Services Commission appointed Kirsty Hood to its panel of senior decision makers. Hood practices at the Scottish Bar, having been called in 2001, and has a practice in the civil litigation field. In her new role, she is required to sit and hear cases involving serious findings against a licensee and/or individual directors where findings are contested by the licensee.

PraxisIFM Trust appointed client relationship directors Paul Blackwell and Rupert Pleasant to its board in Guernsey. Blackwell joined PraxisIFM in December when it acquired his previous employer, Confiance. Pleasant has previously worked at Barclays Wealth Management in Cape Town, and Credit Suisse in Guernsey and Zurich. In 2008, he moved to Geneva and joined PraxisIFM as a director before moving back to Guernsey in 2014. As part of the seven-strong board, the pair is involved in the future strategic direction of the company.

BMO Global Asset Management hired Alfredo Uras as a sales executive in Milan, Italy. He joined after more than a decade with Pioneer Investments. He provides support on the distribution of BMO GAM’s investment capabilities across institutional and wholesale channels in Italy, reporting to Giampaolo Giannelli, the firm's head of sales in Italy.

ZEDRA, the provider of trust, fiduciary, corporate and fund services, appointed Greg Murray to the newly-created role of head of compliance in Jersey. With 10 years of experience at a senior level in Jersey's financial services industry, he has helped shape regulatory and operational policies and designed digital fiduciary risk assessment tools at a number of Jersey financial services firms.

Deutsche Bank appointed Daniel Kalczynski and Anke Sahlén as co-heads of wealth management in Germany. Kalczynski joined the bank in 1990. He has been managing the German wealth management business on an interim basis since April, in addition to his responsibility as chief operating officer of wealth management, Germany. Sahlén has been with Deutsche since 1993, advising wealthy clients both nationally and internationally. She leads the wealth management team for Eastern Germany.

Stockholm-headquartered Handelsbanken replaced Frank Vang-Jensen, its president and group chief executive, less than 18 months after he took the helm. Executive vice president Anders Bouvin was named as his successor. Bouvin has worked at the bank for more than 30 years and was most recently head of the UK business. The bank said the decision to remove Vang-Jensen from his post followed an “extensive analysis” and “purely related to the individual”.

Netherlands-listed ABN AMRO Group approved the nomination of Jurgen Stegmann as a new member of its supervisory board. Stegmann was most recently chief financial officer at Robeco. He has also served as chief risk officer at NIBC and a member of the managing board of Fortis Bank Nederland.

Copenhagen-headquartered Danske Bank hired Tine Choi to the post of chief strategist for the lender’s new wealth unit. Choi is a senior strategist at Nordea and has previously worked at Sydbank; she has worked in financial services for a total of 16 years. She will start her new role in November.


Hawksford, the corporate, private client and funds business, appointed a chief operating officer, David Ticombe, to build its recently-established office in the Cayman Islands. He was previously managing director of Jencap Advisors for two years. Before that, he was managing director of Barclays Private Bank and Trust (Cayman).

Wealth and asset management house Noah Holdings appointed Shang-yan Chuang as chief financial officer, taking over from Ching Tao, who is now chief executive of Noah US, the firm’s first US subsidiary.Chuang has more than 13 years of experience in financial services. In March 2011, he joined Noah as a director of investment relations and corporate development. In 2012, he founded Noah Holdings (Hong Kong) and served as its executive director and CEO until January 2016. Prior to joining Noah, Chuang was a senior executive at Bank of America Merrill Lynch in the investment banking division and Asia private equity from 2003 to 2011, based in Hong Kong.

Legg Mason appointed John Besley in Australia as part of its drive to bring out “next generation” offerings to run alongside its traditional fund proposition.Besley took on the role of product management director, Australia, to bolster product strategy and development in the region. His appointment followed that of Andy Sowerby as head of Australia in August. Besley originally joined Legg Mason in June 2013 as client service and distribution support manager. Based in Legg Mason’s Melbourne office, he reports to Jaspal Sagger, head of international products, who is based in London.

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