Walker Crips has hired former BNP Paribas UK wealth management man Mark Rushton to spearhead the growth of its private client business.
Rushton joins in the newly created role of chief investment officer and will report to Walker Crips' chief executive Rodney FitzGerald.
In his new capacity, Rushton will take the lead in evolving investment strategy and policy to meet the challenges prevailing in the investment industry with a focus on refining the firm's retail proposition with the retail distribution on the horizon. The retail range includes funds managed by Citywire Selection duo Jan Luthman and Stephen Bailey.
Rushton worked for BNP Paribas' UK wealth management proposition prior to its acquisition by Williams de Broe last year. Before this he was in charge of corporate development at Fortis and has also had stints at Cazenove Capital Management and UBS.
His appointment comes at a tricky time for Walker Crips after its shares took a severe hit following a profit warning last week. Shares in the firm have since recovered some ground and were up a further 2p, or 5%, in early trading today, to stand at 42p, around 12p below its 52-week high.
Rushton is looking forward to his latest challenge: 'Walker Crips is that rare gem in investment management, a fine firm with a diverse range of clients who continue to depend upon a stable group of experienced advisers each with the flexibility to serve clients as they wish to be served - as individuals,' he said.