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Fyshe Horton Finney plans new ventures in management reshuffle
by Annabelle Williams on Feb 15, 2013 at 12:37
Fyshe Horton Finney is set to diversify out of wealth management following a top-tier reshuffle.
The traditionally stockbroking-led business said it is looking to launch ‘new innovations’ shortly and is trying to raise capital to fund the ventures.
In January, Wealth Manager revealed that chief executive Hardeep Tamana had left the business after nearly nine years, while two directors had stepped down.
No reason was given for Tamana’s departure and he is yet to be replaced.
Fyshe confirmed it is in the process of a management reshuffle as regional director Sue Grierson – who looked after the northerly business – and director Clive Duckitt stepped back from their directorships.
Fyshe Horton Finney has 15 branches across the regions and has struggled to turn a profit in recent years.
The firm said that while wealth management will still be the mainstay of the business, efforts to raise capital are underway and new launches should be expected.
‘The board changes are part of a management reshuffle that is taking place within the business,’ a spokesperson said.
‘A further capital raising exercise is being conducted with majority shareholders already committed to this and although our core business will remain private client wealth management, we will be launching some new innovations in the near future.’
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