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Signia Wealth names new CIO, with de Merlis to exit

Signia Wealth names new CIO, with de Merlis to exit

Signia Wealth has named Michael Rosenthal its new chief investment officer, with the previous incumbent Etienne de Merlis set to leave the company.

Rosenthal (pictured) was previously Signia’s head of hedge fund investments, a role he had held since joining the business in 2013.

Prior to that, he was global co-head of investment at Amundi Alternative Asset Management, helping oversee $28 billion (£22 billion) of assets, as well as heading its London office.

He also previously worked at JP Morgan Investment Management.

Signia chief executive Carnegie Smyth, a former Wealth Manager cover star, said: ‘We are pleased to announce someone of the calibre of Michael as CIO. As a result of that, Etienne will be leaving the business.’

Rosenthal said it will be more a case of tweaking the investment process, but he pointed out that no major changes have been planned.

‘We don’t need to change much at all because we have good people in every asset class,’ he said.

During Rosenthal’s 11 year tenure at Amundi, hedge fund assets under management within the business rose from $1.2 billion to $28 billion, and he said the key to attracting inflows is fairly straightforward.

‘Twenty years of managing money has taught me that if you are disciplined and process-driven, as an outcome of that your portfolio performance will be consistent and assets will grow rapidly,’ he said.

Smyth added: ‘As a company we have aspirational goals and with Michael leading investment and every member of the team doing what they do best, we will have significant asset growth.’

Signia has been enjoying a turnaround since Smyth and his executive team, which also included de Merlis and head of wealth management Greg Malone, rejoined the firm and took the helm in early 2015, following the acriminonious departure of founder Nathalie Dauriac-Stoebe.

Last year, the company revealed the progress of its restructure and cost-cutting drive as operating losses fell by two thirds, while maintaining its revenues.

It also introduced a cash management service earlier this year.

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