Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Psigma opens Birmingham arm and targets Edinburgh

Psigma opens Birmingham arm and targets Edinburgh

Psigma Investment Management has launched its first Birmingham office with former Charles Stanley head of private clients Toby Carpenter.

The office is Psigma’s second outside London - sitting alongside the Newcastle branch - and is part of a wider regional plan which could also see the investment manager open a branch in Edinburgh.

‘We are thinking of a national presence,’ explained Psigma managing director Darrell Mercer, adding that people in regions want to managed by someone on the ground.

‘We have just opened an office in Birmingham. Punter Southall already have an office there so it was a very easy thing to add. We’ve recruited Toby Carpenter to build the proposition and it’s starting to work,’ he said.

Carpenter will manage private client, charity and pension portfolios and will work to broaden Psigma's reach in to the IFA market.

While Mercer agreed that Edinburgh is already well-broked, he said he thought Psigma's down to earth approach would fit well with the market.

‘I think there are a lot of managers [in Edinburgh] but there’s a lot of money that’s been in Scotland for a long time. It’s more traditional money than new money and our approach would be very suited to those kinds of people,' he said

The Edinburgh office will depend on finding the right people to lead the venture. Both office openings are part of Psigma's five-year plan to grow assets to £3 billion from the current £1.4 billion under management.

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 Dispelling the sustainable investing myths

Dispelling the sustainable investing myths

There's a bit of a buzz around sustainable investing at the moment. We speak to three wealth managers to find out what they think.

Play Inside ETFs: positioning for the Fed rate rise

Inside ETFs: positioning for the Fed rate rise

Natalie Fast discusses how investors are using ETFs to position for a rate rise with guests Irene Bauer from Twenty20  Investments and Markit's Simon Colvin.

Play Wealth Manager Retreat: video highlights

Wealth Manager Retreat: video highlights

The UK's leading wealth management talent gathered at our annual event at the Grove celebrate the best in private client portfolio management.

Wealth Manager on Twitter