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.’