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.

Birmingham wealth battle hots up as Tacit opens shop

Birmingham wealth battle hots up as Tacit opens shop

Competition for Birmingham wealth has intensified on news Tacit Investment Management has opened an office in the city, marking the group’s first push into the regions.

The boutique private client manager hired Kypros Charalambous (pictured) from Deutsche Asset & Wealth Management, where he was Midlands head, last year.

He originally worked out of Tacit’s London base, but is now backed by three support staff in the new office in the second city, enabling him to be closer to his clients.

Charalambous’ switch to Tacit saw him reunited with his former Deutsche colleagues, Tacit founders Raj Basra, who was an investment director at the private bank, and Roy Swain, who headed its London intermediaries group.

They left to set up Tacit in 2010, along with Peter Bickley, who was previously the chief strategist at Deutsche’s UK arm.

Charalambous had managed over £1.3 billion at Deutsche across private client portfolios and a range of unitised products. Prior to that, he had a long stint at Gerrard Investment Management.

Swain said: 'When Tacit was founded, we were acutely aware of the importance of marrying an experienced investment management team with locally based client relationships. Following the successful establishment of Tacit’s South East footprint over the last three years, Kypros Charalambous, an immensely experienced investment manager, agreed to join Tacit to lead our Midlands based team last year.

'We see the opening of our regional office in Birmingham as an evolutionary step in the delivery of our strategic vision for building long term, locally based client relationships.'

Tacit follows in the footsteps of Psigma and Signia, who set up shop in in Birmingham earlier this year. The trio is competing against the likes of more established players such as Brown Shipley, Deutsche and Brewin Dolphin.

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 JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter