View the article online at http://citywire.co.uk/wealth-manager/article/a735368
It was ‘fascinating’: Rathbones chief signs off with 15% profit jump
by Dylan Lobo on Feb 20, 2014 at 07:53
Following a spate of acquisitions recently, including Taylor Young Investment Management, Rathbones chairman Mark Nicholls indicated Howell would be given more money to spend on buys.
‘We are well placed to take advantage of future growth opportunities in our sector and continue to look to the future with optimism,’ Nicholls said.
Earlier this month Wealth Manager revealed that Rathbones was among the firms considering launching a bid for Jupiter's wealth arm.
With regulation an increasingly important issue for private client managers, Nicholls said the group plans to improve its risk controls.
‘Whilst we have made considerable progress in 2013, risk management remains an area we want to develop further,' he said.
'We plan to establish an independent risk management structure to supplement our historic and proven practice of ensuring that our investment teams take responsibility for the risks in their areas of business. We will continue to promote a culture of risk awareness and responsibility throughout the firm.'
Nicholls believes the biggest risks to Rathbones growth strategy is continued regulatory intervention in the sector.
‘We believe that it is important that short term political imperatives do not mean that the pendulum swings too far in our area of financial services and that unintended consequences do not work against the best interests of good investment managers and their clients, he said.
At 9.25am shares in Rathbones were 15p lighter at £17.70.
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