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Killik's Kavanagh exits with two partners to launch new firm

Killik's Kavanagh exits with two partners to launch new firm

Three Killik partners, including CIO Paul Kavanagh, are to leave the firm to launch their own venture.

Kavanagh will depart Killik & Co at the end of the year, alongside Kareem Khouri and John Prior. The trio have worked at the company for a combined total of 55 years.

The decision was reached by mutual agreement following a strategy review, which will see Killik scale back its futures business - the area where all three specialised.

Killik is planning to instead focus on its core broking, investment management and wealth planning businesses. 

The trio were historically responsible for the derivatives division and have plans to launch a new business in this space.  

Founder Paul Killik (pictured) said news of the departures filled him with 'great sadness' at a personal level. 

'All three, and Paul in particular, are not just working colleagues but they are and will remain very good friends, and I will miss them hugely. Each, in their own inimitable way, have made an enormous contribution to the growth of the business over a very long time. 

'On behalf of all my partners, I would like to say a very sincere thank you and to wish them the very best of good fortune with their new enterprise and I hope that their new business joins the roster of other successful firms that have been born out of the deep pool of Killik & Co talent and entrepreneurialism.'

Kavanagh added: 'Making the decision to start a new venture is never taken lightly but it is particularly difficult in this instance. Paul Killik has been a truly inspirational leader, loyal friend and mentor for over 20 years.
He added: 'It has been an enormous privilege for Kareem, John & me to work alongside Paul and the rest of the Partnership and we will always be proud to have played a part in its success.'
Last year Killik & Co grew net new assets by more than £400 million, taking total assets up to £4 billon.

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