Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Ashcourt Rowan hires Generali boss to grow funds arm

Ashcourt Rowan hires Generali boss to grow funds arm

Ashcourt Rowan has appointed David Palmer as its new business director.

Palmer will serve within Ashcourt Rowan Asset Management where he will report to group chief executive officer Jonathan Polin (pictured).

Palmer will assist in the management and development of the firm’s asset management business, working closely with David Esfandi, managing director of the asset management business, and have a particular focus on driving Ashcourt's transition process to a new operating platform.

Palmer joins Ashcourt from Generali, where he was the founding chief executive of the company’s London-based portfolio management business.

He previously served as head of private clients for the investment management arm of merchant bank Rea Brothers, following an early career as a stockbroker and fund manager.

Coming on board at Ashcourt, Palmer said that in the new regulatory environment it was important to capture all the opportunities that came with it.

In a statement Palmer said: 'With RDR [the retail distribution review] coming into force, there are tremendous opportunities for firms like Ashcourt Rowan which can demonstrate expertise across fund research, portfolio management and financial planning.'

The hire at Ashcourt comes after it emerged Chris Jeffreys and Mark Smith had decided to stand down from their roles.

Wealth Manager revealed that while Jeffreys would remain in the business but return to running client funds, Smith had decided to leave Ashcourt completely, as well as vacating his head of compliance role.

The pair were credited with helping to turn Ashcourt Rowan around after it was fined £412,000 for suitability failings.  These failings were restricted to its Savoy Investment Management business, which now sits under the Ashcourt Rowan banner.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Taxicab Tenner: SW Mitchell Capital's Stuart Mitchell

Taxicab Tenner: SW Mitchell Capital's Stuart Mitchell

In the fifth episode of our new series, SW Mitchell Capital's founder explains why he expects Europe's growth to outpace the US.

Play Inside ETFs: how to defend against bond volatility

Inside ETFs: how to defend against bond volatility

In this latest episode we call in experts from 7IM and Markit to assess how the bond sell-off has impacted ETFs.

Play The future of wealth management according to disruptive tech expert Andrew Tarver

The future of wealth management according to disruptive tech expert Andrew Tarver

Three private office investors direct their questions about the future of wealth management, to Andrew Tarver, founder of Boldrocket and disruptive tech expert.

Wealth Manager on Twitter