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City Financial hires ex-Fidelity man Coombe as CFO

by Elsa Buchanan on Jun 18, 2014 at 09:44

City Financial hires ex-Fidelity man Coombe as CFO

Asset manager City Financial has appointed Chris Coombe as chief financial officer (CFO).

Coombe, who will be joining on 23 June, will report to chief executive Andrew Williams. In his new role, Coombe will lead City Financial’s finance, operations and client services, regulatory compliance, legal, technology, facilities and human resources teams.

Coombe has held a number of senior roles in the industry, including CFO of Fidelity Worldwide Investment and group financial controller of Schroders in the UK. He also experience in executive management at Prudential Securities and Morgan Stanley.

More recently he was based in Abu Dhabi, as chief executive of the joint venture between Mubadala Development Company and Mesirow Financial, and as chief operating officerof Invest AD.

CEO Williams said: 'Chris [Coombe] is a highly respected and experienced professional. His appointment demonstrates our commitment to the continued growth of our firm, which offers innovative investment strategies for individual and institutional clients worldwide and has investment teams based in London, Hong Kong and Guernsey. 

'He will contribute to the development and launch of our new investment offices in Geneva and New York and to the continued growth of City Financial’s business in the United Kingdom, Europe, Asia and the Americas.'

In June, Wealth Manager revealed Iveagh’s investment team, including CIO Chris Wyllie, would not move across to City Financial following its acquisition of the wealth boutique. The deal, which included Iveagh's multi-asset funds business, was worth just under £200 million.

This followed City's acquisition of OPM Fund Management last year, as revealed by Wealth Manager, alongside that of Eden Financial the previous year.

City Financial currently manages $2 billion (£1.18 billion) in assets.                                            

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How is regulation feeding the outsourcing trend?

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