Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a650626

Ashcourt Rowan hires Generali boss to grow funds arm

by Sarah Miloudi on Jan 14, 2013 at 10:07

Ashcourt Rowan hires Generali boss to grow funds arm

Ashcourt Rowan has appointed David Palmer as its new business director.

Palmer will serve within Ashcourt Rowan Asset Management where he will report to group chief executive officer Jonathan Polin (pictured).

Palmer will assist in the management and development of the firm’s asset management business, working closely with David Esfandi, managing director of the asset management business, and have a particular focus on driving Ashcourt's transition process to a new operating platform.

Palmer joins Ashcourt from Generali, where he was the founding chief executive of the company’s London-based portfolio management business.

He previously served as head of private clients for the investment management arm of merchant bank Rea Brothers, following an early career as a stockbroker and fund manager.

Coming on board at Ashcourt, Palmer said that in the new regulatory environment it was important to capture all the opportunities that came with it.

In a statement Palmer said: 'With RDR [the retail distribution review] coming into force, there are tremendous opportunities for firms like Ashcourt Rowan which can demonstrate expertise across fund research, portfolio management and financial planning.'

The hire at Ashcourt comes after it emerged Chris Jeffreys and Mark Smith had decided to stand down from their roles.

Wealth Manager revealed that while Jeffreys would remain in the business but return to running client funds, Smith had decided to leave Ashcourt completely, as well as vacating his head of compliance role.

The pair were credited with helping to turn Ashcourt Rowan around after it was fined £412,000 for suitability failings.  These failings were restricted to its Savoy Investment Management business, which now sits under the Ashcourt Rowan banner.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Investing for income in a changing environment


With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

More about this:

Look up the shares

  • Ashcourt Rowan PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet