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Hartmann Capital MD Carr-Stevens departs following shake-up

by Danielle Levy on Feb 04, 2013 at 10:15

Hartmann Capital MD Carr-Stevens departs following shake-up

Elizabeth Carr-Stevens, Hartmann Capital’s managing director, has left the company amid an overhaul of the fledgling wealth management business’s proposition.

Hartmann chief executive Andrew Fitton confirmed the departure and said the firm – which has derivatives, fund management and fixed income divisions – had decided to reposition its wealth management offering.

Launched over a year ago under Carr-Stevens (pictured), the division offered bespoke portfolio management, targeting clients with £1 million to £10 million in investable assets.

However, under the guidance of non-executive director Roderick Collins, who founded Hasley Investment Management, the group has opted to re-examine its proposition and hire a new and experienced team.

Fitton, who founded hedge fund outfit Gracchi Capital Partners, said a relaunch of its wealth management arm was planned later this year, alongside the hire of a new managing director.

‘We have been actively recruiting experienced relationship managers, changed our offering and the way we administer it using a third party custodian and administrator. We are looking forward to a bolder relaunch,’ he said.

Alex Ford, an investment manager who was brought in by Carr-Stevens from Barclays Wealth, is also leaving the company. In the interim, wealth management clients will be serviced by Hartmann’s investment management division.

Carr-Stevens, a former Wealth Manager cover star, previously headed Cazenove’s Salisbury office and had a stint as head of private clients at Arjent.

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