Oaktree Wealth Management is planning to launch an international division under new hire Tony Shah, who was formerly head of Towry’s international business.
The firm, run by former Wealth Manager cover stars Jeremy Arthur and Ian Brady (pictured), Invesco Perpetual’s ex-head of fund of funds, is planning to target international clients through the new business to be led by Shah. He joins from Christchurch Investment Management.
Arthur said: ‘We found we were getting a growing number of enquiries to manage money offshore for UK residents.
‘I have known Tony for many years. He followed our progress from launch and felt that because of the strength of our processes, our investment management proposition was much more suited to his clients.’
As a result, the boutique has now gained its EU permissions and is hoping to see assets boosted once the new business is established.
‘We hope it will bring us additional funds under management and the opportunity to attract clients who may be coming back to the UK but want to keep their assets offshore,’ Arthur said.
Having launched in 2008, the company now runs £75 million in assets, and is aiming to reach £350-500 million over the next three to five years.