Sanlam Private Investments (SPI), the discretionary fund management arm of Sanlam Group, is opening an office in Eastbourne.
The branch will be headed by Lee Clark, who has joined from Arbuthnot Latham, where he was a chartered financial planner.
Ian Porter (pictured), Sanlam’s head of wealth management, said: ‘We know we have some holes in our geographic coverage, and while a lot of other firms will focus on Brighton, we think Eastbourne has more going for it in terms of the private clients we want to deal with.
‘To my knowledge there is no other business like ours, a full service wealth management firm, in the region.’
The office, which will open on 24 March, will target trustees, partners and the directors of businesses both pre and post-retirement.
Clark joined Arbuthnot Latham in 2010, having held similar roles at multinational banking groups. He also spent some time developing a UK charity’s financial services offering.
Porter said: ‘Lee is an outstanding individual, and his appointment fits with Sanlam having recently attained charter firm status.
‘We share a certain outlook about what a good advisory business looks like, while sharing a passion for wanting to build a presence on the South coast. We’ll let him build a whole branch around himself.’
Porter, a former Wealth Manager cover star, joined SPI in January 2013 from Alexander Forbes, where he held a similar position.
SPI manages £1.9 billion in assets in the UK.