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Deutsche’s portfolio chief Wharton becomes latest to join Tacit
by James Phillipps on Oct 04, 2013 at 11:41
Paul Wharton, former head of portfolio management and strategy at Deutsche Asset & Wealth, has become the latest senior figure from the bank to move to Tacit Investment Management, Wealth Manager can reveal.
Wharton (pictured), who left the banking giant last month, joins the London-based boutique as a partner and investment strategist. He will sit on the group’s investment strategy group.
The move sees him reunited with a number of former colleagues including Tacit founders Raj Basra, who was an investment director at the private bank, and Roy Swain, who headed its London intermediaries group.
Basra and Swain left to set up Tacit in 2010, along with Peter Bickley, who was previously chief strategist at Deutsche’s UK arm. The bank’s former Midlands head, Kypros Charalambous, also joined the firm last April.
Wharton was Deutsche’s long-term chief investment strategist and took on the additional role of UK head of portfolio management after Martyn Surguy left the firm to join Morgan Stanley last March.
Wharton was responsible for Deutsche Asset & Wealth’s economic and market strategy and served on both the firm’s UK and global investment committees. He moved over from Tilney following its acquisition by Deutsche in 2006.
Wealth Manager revealed in April that Wharton was set to leave the banking giant this autumn, with Jonathan Marriott replacing him as UK discretionary head.
Wharton said: ‘Tacit is an investment-led, client-focused business led by an experienced management team that I respect immensely.
‘When the opportunity arose to work alongside like-minded investment professionals to provide a new and innovative investment solution into the UK marketplace, I had no hesitation in taking the opportunity.’
Basra added: ‘Investment thinking is at the core of our business and we are delighted that Paul has joined to further strengthen the Tacit investment proposition. His strategic insight will be invaluable as we move into the next phase of the investment cycle.’
Wharton’s hire follows hot on the heels of Tacit opening its first regional office in Birmingham last month. Charalambous had worked out of the boutique’s London base but is now backed by three support staff in the new office in the second city, enabling him to be closer to his clients.
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