View the article online at http://citywire.co.uk/wealth-manager/article/a568051
GAM hires Quilter's Hepworth and McDaid to lead outsourcing arm
by Annabelle Williams on Feb 20, 2012 at 10:34
Former Quilter head Charles Hepworth has joined GAM to lead its discretionary fund management service.
Hepworth, who has been responsible for Quilter’s managed portfolio service (MPS) since 2001, joins as investment director alongside Quilter senior associate James McDaid who is joining as an investment manager.
The pair will join in the second quarter, charged with developing and managing outsourcing solutions for IFAs.
A former Wealth Manager cover star, Hepworth spent 17 years at Quilter and is lauded for growing the firm's MPS from around £15 million under management when he was put in charge in 2001, to an estimated £700 million today.
He announced his departure from Quilter in early February, and his responsibilities were provisionally taken over by Julian Menges, deputy manager of the MPS and Ben Mountain, head of collectives research.
GAM has been on the expansion trail of late, recently announcing it was partnering with Barclays Capital to launch an actively managed fund of indices.
The new recruits will report in to GAM’s global head of private clients and portfolio management Graham Wainer (pictured) who said: ‘We are delighted that Charles and James have decided to join us. With their in-depth understanding of the requirements of UK independent financial advisers, they will be invaluable in leveraging GAM’s existing strategy selection, asset allocation and manager selection expertise for this growing client segment.’
He added: ‘By blending their expertise in running model portfolios with GAM’s long-standing experience in managing tailored private client assets and providing solutions to institutions and private banks, we believe we will have a highly attractive solution for advisers and their clients.’
News sponsored by:
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
From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.
More about this:
More from us
- Quilter hires investment manager from Towry
- Wainer: what will get us out of this economic mess?
- Star manager Hepworth's key calls for 2012
- Quilter managed portfolio service head Hepworth to leave
- GAM partners with Barclays for multi-asset fund
On the road
on Jul 29, 2014 at 13:10