Investec Wealth & Investment has bolstered its Edinburgh team with a quadruple string of senior hires from Deutsche Asset & Wealth Management, including its office head Grant Milne.
Milne is set to join the team in September and was formerly managing director of Deutsche's Edinburgh office and a board member of the UK business. He personally managed £150 million in assets at the firm.
He will be joined by Gordon McAndrew, head of Deutsche's Edinburgh-based discretionary management team. He formerly sat on Deutsche's UK investment committee and has over 16 years' experience in wealth management.
David Henderson also joins after a 10-year spell in Deutsche's Edinburgh office. He began his career at Robert Fleming and joined Tilney Investment Management in 1992, alongside Ian Smith, who spent the past eight years in the Deutsche Edinburgh hub, where he oversaw a wide range of private client portfolios including Sipps, trusts and charities. He started his career at Wood Mackenzie & Co in 1983, joining Edinburgh Fund Managers in 2003.
Investec said the string of hires marked the latest expansion stage for the firm in Scotland, following the integration of the Williams de Broe team back in late 2012.
Murray Mackay (pictured), a divisional director in Edinburgh, added: 'We are tremendously pleased to welcome four exceptional wealth management professionals to our Edinburgh office. They bring with them substantial experience in managing portfolios on behalf of private clients, charities, trusts and pension funds.
'Working closely with our existing team, they will play an important role in expanding our presence in Edinburgh and throughout Scotland.'The raft of departures from Deutsche follows the news, revealed by Wealth Manager, that its regional network of private client offices, which came over when it acquired Tilney in 2006, are up for sale. The first bids for the former Tilney business are due in on 2 September.