Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Veritas splits private client and fund businesses in restructure

5 comments
Veritas splits private client and fund businesses in restructure

Veritas is to formally split its fund management and private client divisions into two separate businesses.

The private client arm, headed by Mark Rayward (pictured), will be rebranded Veritas Investment Management, while the fund management business will retain its name Veritas Asset Management under the stewardship of chairman Charles Richardson, alongside fund managers Andy Headley, Ezra Sun, and chief operating officer Richard Grant. 

Stewart Newton will become chairman of Veritas Investment Management, while former Wealth Manager cover star Anthony Rosenfelder will continue in his role as chairman of the international private client business - Veritas AG.

Veritas Asset Management will have a minority investment stake in Veritas Investment Management, while the reorganisation has involved the creation of two distinct limited liability partnerships. The team said the overhaul will enable the two businesses to focus on their respective clients' needs and differing regulatory requirements and strategic objectives. Both businesses will retain their investment approach and partnership-led culture. It is understood that the ownership structure will not change.

Charles Richardson, chairman of Veritas Asset Management, said he hoped the restructure will help to power future growth.

Mark Rayward of Veritas Investment Management added: 'We have made significant strides developing the team and service over the last few years and this is a natural progression for our private client and charity business.'

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 JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter