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.

Salamanca hires ex-Goldman Sachs man to head group strategy

1 Comment
Salamanca hires ex-Goldman Sachs man to head group strategy

Salamanca Group is strenghening its ranks with the appointment of Martin Devenish as group head of strategy, and main board director.

Devenish held a number of senior roles in equity capital markets during his career at Goldman Sachs, which spanned over 20 years, during which time he led a range of strategic initiatives as partner and most recently as an advisory director.

In his new role, Devenish will shape Salamanca Group's business strategy and develop new opportunities.

Commenting on the appointment, Martin Bellamy, chief executive of Salamanca Group and former Wealth Manager cover star, said: 'We are very pleased to welcome Martin [Devenish] to this newly created role, which will enable him to draw on his extensive knowledge of capital markets across the globe to help drive the strategic direction of the group.

'He will also be involved in developing new business opportunities and steering the future positioning of the business. His appointment significantly bolsters our senior management team.'

Recently, Bellamy announced he was looking to expand into wealth management, taking the decision to focus purely on advisory.

‘We will not build an asset management business per se, because there are people out there that do it much better than we could, yet we should be good at selecting managers that do it really well,' he said.

The group offers a range of investment services across real estate, private equity, along with corporate risk management and advisory services, including mergers and acquisition, capital restructuring and capital raisings. It also provides research and intelligence, and a standalone private clients service. It is into this service that the wealth advisory business will be integrated.

In October, the firm acquired Investec's trust service, and its £4.5 billion in assets 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 Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Play SVM's Veitch on what's next for banks

SVM's Veitch on what's next for banks

SVM fund manager Neil Veitch is finding value in what he describes as unstable financials and talks through his favourite small caps.

Read More
Your Business: Cover Star Club

Profile: UBS' robo boss on what his tween can teach the industry

Profile: UBS' robo boss on what his tween can teach the industry

Co-head of UBS SmartWealth Shane Williams explains the simple life lessons missed by the first wave of robo pioneers

Wealth Manager on Twitter