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Nifty 50: the thoroughbred wealth stars of our time
by Danielle Levy on Feb 13, 2012 at 00:01
We reveal the 50 wealth manager stars who have survived the highs and lows for decades prove, that when it comes to investment, experience really counts.
Jamie Berry, Berry Asset Management
Berry joined the investment world from school with a traineeship at GT Management and rose quickly through the ranks, being appointed MD of their unit trust business aged 21.
In 1981 he left to set up his own firm, Berry Asset Management and is now focused on ensuring the firm’s continuing success under the leadership of new CEO Jamie McLeod. He says a ‘fascination’ with investment keeps him in the business and counts his most embarrassing moment as being asked in his first client meeting, aged 19, if he was on half term from school.
Richard Charnock, Standard Life Wealth
After completing a degree at Durham University followed by military service, Charnock spent 17 years at Lloyds Bank, latterly as CEO of Private Banking. He moved to Williams de Broe and as CEO oversaw its acquisition by Evolution, before taking on the challenge of starting up Standard Life Wealth from scratch, something he counts as his greatest professional achievement.
If he hadn’t entered the investment world he would have liked to have been a creative in the advertising world, and believes the best lesson he has learnt is that management do not have a monopoly on the best ideas.
Chris Macdonald, Brooks Macdonald
Chris Macdonald has worked in financial services since 1981 and founded Brooks Macdonald in 1991. He counts his greatest professional achievement as listing the firm in 2005 and is kept in the industry by its dynamic nature.
His greatest personal achievement was completing the Marathon Des Sables and if he hadn’t worked in investment it would have been something sports-related. For Macdonald the song that describes the current market conditions is ‘Taxman’ by The Beatles.
Jeremy Batstone-Carr, Charles Stanley
With a career spanning 27 years, Jeremy Batstone-Carr has worked at Brewin Dolphin, Natwest Stockbrokers and Fyshe Horton Finney. He joined Charles Stanley in 2004 as head of private client research and counts his greatest professional achievement as ‘calling the 1999 tech bubble for what it was’.
The best lesson he has learnt during his career is to always listen to those who proffer advice, and if he hadn’t worked in wealth management he would have been a volcanologist.
Simon Davies, S C Davies & Co Ltd
Simon Davies started out in investment banking in the nineties and spent several years at SG Warburg before working for nine years as a director at Berry Asset Management. He founded S C Davies & Co in 2004 and says his greatest professional achievement is seeing the business thrive in the most challenging conditions seen for decades.
If he hadn’t entered the world of wealth management he would have liked to have been a professional athlete who managed his own money as a hobby, and says ‘I can’t get no satisfaction’ by the Rolling Stones is the song that best describes current market conditions.
Claire Bennison, Brooks Macdonald
Brooks Macdonald regional director Claire Bennison joined the investment industry from school and spent the first 10 years of her career working on the institutional side, primarily in the derivatives market. She moved from a position as a sales assistance/secretary at a Japanese bank to head of currencies at Barclays, before moving to Brooks Macdonald to head up the firm’s Manchester office.
After 20 years in the industry she says she is still growing professionally, and believes you can learn something from everyone you meet. Swimming the English Channel solo in 2009 is among Bennison’s greatest personal achievements, and if she hadn’t entered wealth management she would have joined the police force.
Peter Fernandes, Smith & Williamson Investment Management
Peter Fernandes has spent over 22 years in the private client investment management industry, including 12 years at Fleming Private Asset Management. He joined NCL Investments in 2001, which later merged with Smith & Williamson, and counts growing the firm to prominence and landing a seat on its board as among his greatest professional achievements.
If he didn’t work in wealth management he could see himself ‘flying and farming in Africa’, and believes it is important to tell people ‘exactly how it is and what you think.’
Stuart Macdonald, Balmoral Asset Management
Balmoral Asset Management was launched by Stuart Macdonald in 1999, after nine years working in the financial services industry. He believes the most important lesson he has learnt during his career is to have faith in his own judgement and in good people and says that establishing the business from its start-up phase has been a professional achievement.
If Macdonald wasn’t working in wealth management, he would likely be running a not for profit manufacturing business in Africa – something he is considering doing after retirement. The song that defines the current era for Macdonald is ‘Always Look on the Bright Side of Life’.
Meg Woods, Veritas Asset Management
South African born Meg Woods started her career as a sell-side analyst in Johannesburg in the seventies. When she moved to London in the late eighties, after a brief stint in New York, she enjoyed senior roles at James Capel, Friends Provident Asset Management and latterly head of UK equities at First State. In 2000 she joined Veritas as a director and moved into private client investment management. She counts becoming the first woman broking member of the Johannesburg Stock Exchange in 1979, alongside the first woman gold medallist on the University of Cape Town's MBA programme in 1976 among her greatest professional achievements.
She enjoys the fresh challenges of analysing events and anticipating future trends as what keeps her in the job.
John Ricciardi, Kestrel Investment Partners
Ricciardi says approaching investment decisions with a formal investment process and with humility has been the greatest lesson he has learnt during his career, which spans over 25 years. Before joining Kestrel Investment Partners as CEO, he was head of asset allocation at Iveagh and prior to this founded Bullrun Financial, which specialised in systems and algorithm design, and also enjoyed a number of senior roles, including global head of asset allocation at Alliance Bernstein.
Ricciardi’s greatest professional achievement was co-founding an investment management company that introduced global asset allocation tools to charitable foundations, alongside state and corporate pension funds and later bringing those techniques to retail investors through daily-dealing funds at Iveagh. Before entering the world of investment management Ricciardi was a cinema director.
Richard Whitehead, Dart Capital
If Whitehead had not entered the world of investment management, he would have liked to have been a pilot for Concorde. Hopefully unrelated, he highlights Roxette’s ‘Crash! Boom! Bang!’ as the song which he thinks best describes current market conditions.
Whitehead started his career in 1991 as a trainee and ended up managing a fast growing team at Coutts in his late 20s. He joined Dart Capital eight years ago, a move he says has enabled him to continue to manage clients ‘rather than people and politics’. Fulfilling his objective of owning a successful wealth management company is his greatest personal achievement.
Daniel Pinto, Stanhope Capital
Pinto counts founding Stanhope Capital, which now manages some $7.6 billion for private clients, charities and endowments across the UK and Europe, as his greatest personal achievement. Meanwhile, having a sense that boutiques have a ‘once in a lifetime opportunity to redraw the lines in the industry’ keeps him in investment management.
Pinto, who has enjoyed stints at SG Warburg and heading up a private equity fund backed by a CVC Capital partner, says his most embarrassing moment during his career was forgetting an appointment with a CEO from a FTSE 100 company. If he hadn’t gone into wealth management, he would have liked to have been a historian.
Noland Carter, Heartwood
Carter says his greatest professional achievement to date has been taking all that he has learnt over his 29 year career and using it to develop the investment management business at Heartwood. The first 15 years of Carter’s career was spent running institutional and retail funds at Flemings, Mercury and Ivory and Sime, where he was head of global equities. He spent the next 10 years in a number of senior positions, including global CIO for Barclays Private Banking, CEO of Investment Services at Barclays Wealth and CEO of Rothschild Private Management. Heartwood’s CIO says the privilege of continually meeting interesting and stimulating people keeps him in the job.
Dina de Angelo, Pictet
Pictet director De Angelo says inspiring younger people to choose private banking and wealth management as a profession is among her most significant personal achievements, alongside ‘having two very happy children and staying at the top of my game’. She also sits on a charitable board that pioneers small grants to community based organisations around the world.
De Angelo started her career at the Bessemer Trust Company in New York and has spent the last 20 years in the UK, focusing predominantly on complex, multi-national client relationships. She says the best lesson she has learnt during her career has been ‘never say never and think before you write’.
Jonathan Fry, jonathanfry plc
Jonathan Fry established his own firm, Jonathan Fry & Co in 1985, which was turned into a public limited company in 2010 after the arrival of David Carr and Adam Galache Brown from financial services providers Hazell Carr.
He is most proud of his firm’s client proposition for the post-RDR environment, which he believes is ‘a new blue print for a wealth management relationship’.
If Fry hadn’t moved into wealth management he would have liked to have been a professional musician, selecting mood music for current markets in the form of ‘Won't get fooled again’ by the Who and ‘Things Can Only Get Better’ by D:Ream.
David Man, RMG Wealth Management LLP
David Man, a partner at London based RMG Wealth Management LLP, has worked in the industry for over 15 years.
He said starting RMG three years ago has been his greatest professional achievement and he has found working in finance, ‘mostly fun and challenging’.
If he hadn’t joined the financial world, he said he would have gone into the hotel business as a manager and says being honest with people is the best lesson he has learnt during his career.
Alan Steel, Alan Steel Asset Management
Alan Steel’s professional high points include successfully predicting the collapse of Equitable Life in the nineties, while he highlights raising two talented children and building a ‘fabulous team of people’ at his company as his greatest professional achievements.
With this clairvoyance in mind, he thinks the media’s obsession with ‘Armageddon’ poses the biggest risk to markets, and believes that progress will be made nonetheless.
Steel says his career has taught him not to touch any investments with artificial constituents and never to follow the crowd. Steel said that if he hadn’t opted to work in financial services, he would like to have been a DJ on a beach in Ibiza.
Quentin Holland, PQR Financial Planning
Holland would have been a either a farmer, horse breeder or a boat builder had he not entered finance.
Thankfully he did and built up 20 years’ experience working at Lloyd's of London as an insurance broker, at Prudential and then Thomsons, which is now part of AWD Chase de Vere.
Along with business partners Roger Clarke and Paul Cameron Taylor, he started PQR Financial Planning in 2004 building the team from three of 11 advisers with numerous assistants.
In his role as a protocol ambassador for the 2012 London Olympics, he hopes the UK will capitalise on the goodwill brought by the games.
Giles Hargreave, Hargreave Hale
Hargreave is best known for setting up his own business in 1985, Hargreave Investment Management, before becoming a partner of family stockbroking firm Hargreave Hale & Co where he works today.
His greatest personal achievement is running a marathon in three hours and three minutes, while he cringes at the memory of driving into a stationary Lotus sports car in a car park.
Hargreave most fears a rise in interest rates over the next year and advises investors to ‘run your profits and cut your losses’.
Mark Atherton, EFG Harris Allday
Director of stockbroking subsidiary EFG Harris Allday, Mark Atherton can look back at a career that started with the City of London’s Big Bang in 1986.
But the bright lights of London were replaced by the ruddy hills of the Midlands a few years later when he returned to work as a discretionary manager for the Stratford-upon-Avon firm Albert E Sharp. He has also enjoyed stints at Quilter and Rathbones’ Birmingham offices.
Interpreting dynamic markets for his clients keeps him in the industry, while the best lesson he has picked up during his career has been ‘to re-evaluate received wisdom, either accept it or design a better solution and be able to justify and live with it. Evolve when change demands it and don’t think you have a monopoly on good ideas’.
Gareth Howlett, Brooks Macdonald
Howlett started his career as an analyst and fund manager for Baillie Gifford in 1985 and later joined Edinburgh-based fund manager Stewart Ivory in 2002. This was followed by a stint at Adam and Company, before he joined Brooks Macdonald in 2009 to establish an Edinburgh office for the company.
According to Howlett, he has ‘the best job in the world’ as he gets to follow markets while working with fascinating clients every day. He highlights Bruce Springsteen’s ‘Dancing in the dark’ as a song which best describes markets and says his most embarrassing professional moment was turning up in Frankfurt for a meeting that was in Dusseldorf.
Glenn Meyer, R C Brown Investment Management
R C Brown’s head of managed funds Meyer believes political interference is the greatest risk facing markets in 2012. ‘To me political machinations are just not analysable. But because a politician's raison d'etre is to be elected and to retain power, most (if not all) will make short term decisions that are expedient for the here and now but make little sense for the long term,’ he said.
After graduating with a law and economics degree, Meyer moved into private client investment management after joining Lloyds Bank’s graduate training scheme. He left in 1997 to join Pavilion Asset Management as a senior UK equity fund manager and later worked as an analyst at Standard and Poor’s fund research team before joining an old Lloyds colleague to develop R C Brown’s private client business.
Martin Cuthbert, Barclays Wealth
Martin Cuthbert held a string of financial planning positions at Equitable Life, Scottish Widows and Lloyds TSB before he joined Barclays Wealth in August 2006, where is now head of the Leeds office. He took over the running of the office in 2008 and has since built up the team and the amount of assets under management, which he counts among his greatest professional achievements. He says ‘learning to listen, and then listen a bit more’ is the best lesson he has learnt over the years.
Mary-Anne Daly, Cazenove Capital Management
Head of wealth management at Cazenove, Mary-Anne Daly has 27 years’ investment experience, including a period spent at Baring Asset Management as head of client service and business development, as well as three years as managing director of Baring’s Paris office.
Daly has also worked for Chase Manhattan Bank in London and says the one lesson she has learnt during her career is to always let other people speak first.
She is fluent in Arabic, French and Italian and if she hadn’t entered the world of wealth management would have liked to have used her linguistic skills in a career at M15.
Paul Killik, Killik & Co
Paul Killik has spent 43 years in stockbroking and moved to launch Killik & Co in 1989 from a small chemist shop in Chelsea, London. The firm now boasts nine branches in and around London, including an international branch in Dubai, with £2.7 billion under management from 25,000 private clients.
Killik counts getting a seat on the board of the Association of Private Client Investment Managers and Stockbrokers as a professional achievement and says he stays in the industry because ‘I love it and there is still so much to do’. For him the song that describes current market conditions is ‘The Best is Yet to Come’ and if he hadn’t worked in investment, he would have liked to have been involved in film production.
Mark Arkwright, Gore Browne Investment Management
Mark Arkwright began his decades-long investment career after seven years in the army, and has worked variously as partner at Newcastle-based Wise Speke Stockbrokers, CEO of Border Asset Management and ultimately as a partner at Gore Browne.
He won a gold medal for England in the VIIIs event at the 1972 National Rowing Championships of Great Britain and says he would have loved to have Prince William’s job – ‘the air sea rescue one, not the other one’.
He believes integrity ultimately pays off, and says the song that currently describes market conditions is ‘Don’t Worry, Be Happy’.
Charles MacKinnon, Thurleigh Investment Managers
Oxford graduate Charles MacKinnon has decades of financial services experience spanning London, New York and San Francisco. After gaining an MBA in France he spent 15 years at Goldman Sachs’ private client division, before resigning to study for a post graduate qualification in garden design. He was persuaded away from the world of landscape design by David Rosier in 2003, and the two decided to set up Thurleigh Investment Managers – which has grown to manage £300 million in assets.
MacKinnon counts his greatest personal achievement as ‘having three happy and sane children and one wife despite the pressures of my career’. If he didn’t work in investment, MacKinnon would like to be director of a world class museum or art gallery.
Peter Lowman, Investment Quorum
Peter Lowman’s 40-year long investment career began after he found himself half an inch too short to become a police officer.
Fortunately this was a twist of fate, as Lowman has since enjoyed a 30-year spell at Cazenove, rising through the ranks to manage the highly regarded Cazenove Global Equity Fund and was later appointed director of Cazenove Fund Management.
He left to join Morgan Stanley Quilter as a vice president, before becoming CIO and executive director of Investment Quorum. Lowman describes himself as marathon runner, rather than a sprinter and feels that experience and wisdom do not come overnight.
Heather Maizels, Victoria Private Investment Office
Heather Maizels started off as a barrister and moved to Hill Samuel in the late seventies to start their currency swaps business, which she then did again at Kidder Peabody International. She joined Barclays bank in 1990 and built their private banking and wealth management business, which she recalls had its challenges. From 2002 to 2010 Maizels started Barclays Wealth’s Advisory Board and set up a number of initiatives including client philanthropy, ArtWealth, and Wealth for Women. She moved to Victoria Private Investment Office in 2011.
The best lesson Maizel has learnt during her career is to always take advice from clients. If she hadn’t moved into the wealth management arena she would have pursued a legal career, not as a barrister but in chancery matters where she believes ‘there real creativity among the best legal minds can be found’.
Stuart Fowler, Fowler Drew Limited
Stuart Fowler began his investment career as a securities analyst, later gaining experience in institutional stockbroking and then managing portfolios for banks. Aged 40 he set up an institutional investment boutique, and on the back of this success began Fowler Drew and moved into the private client market. He counts these start ups as his greatest professional achievement, as they are in his words: ‘both innovative subverters of traditional approaches to investment’.
He previously retired for six months but was drawn back in by his love of markets and the enjoyment he gets from building businesses. He believes in questioning everything, and before entering the investment world wanted to be a journalist.
Dougal Fraser, Williams de Broë
Fraser’s investment career began 25 years ago at Grieg Middleton, before he made the move to Matheson Securities in 1991. There he won the discretionary mandate to manage £15 million against stiff opposition, something he describes as his greatest professional achievement. In 2010 he resigned to join Williams de Broë, where he runs £110 million, is an executive director of the company and chairs the committee that runs the London office.
He loves investment management because of the ‘never ending challenge of trying to get it right’, but if he hadn’t been lured in, he would have wanted to have been a writer.
John Howard-Smith, PSigma Investment Management
In 1983 Howard-Smith started out in the investment world with a job at Buckmaster and Moore stockbrokers, which was later taken over by Credit Suisse. He worked as a divisional director in the private client department until 1996, when he joined James Capel (later renamed HSBC Investment Management) as a director and manager of the senior management team.
Howard-Smith founded PSigma in 2002, and counts as his greatest professional achievement building its assets under management to £1.3 billion from scratch. On the personal side, his greatest achievement was ‘surviving a Jesuit upbringing’, and what keeps him going in the industry is the knowledge that so many of his competitors ‘get it wrong’.
Graham Prest, Prest Financial Services
Prest’s career began in the civil service, before he left to join Prest Financial in 1985. Here he successfully remodelled a long-standing financial services business (which at the time was called Prest Insurance Brokers) into a wealth management practice with turnover of £1.2 million and recurring income at 70%.
His greatest personal achievement is helping to raise five children, and if he hadn’t been drawn into wealth management he would have liked to have been a professional golfer on tour.
Michael Clark, Charles Stanley Group
Clark became a member of the London Stock Exchange in 1970 and moved to Charles Stanley in 1976. He moved up the ranks, becoming a partner in 1982 and director in 1988, and says his greatest professional achievement is helping to grow the firm from partnership to fully listed public company.
If he had not been lured into wealth management he could see himself working in public relations, and believes the one of the best lessons he has learnt is the importance of hard work and commitment.
Ronnie Armist, Stonehage Investment Partners
With 19 years at Lombard Odier under his belt, Ronnie Armist moved on from his CIO and CEO role at the Swiss bank and spent four years managing Michael Spencer’s family office, ICAP. He has been heading up Stonehage for the last five years and describes investment management as ‘the most rewarding industry to be involved in, always stimulating, always challenging’.
He believes in always being humble and surrounding oneself with the highest quality people. He would have liked to have been a doctor, and has run no less than 13 marathons.
Ian Brady, Oaktree Wealth Management
Brady loves investment management and ‘can’t think of another career that is as fast paced and intellectually stimulating for a nearly 50 year old’. He started out in the industry over 25 years ago at FS Assurance (now Ignis) before rising through the ranks at L&G Investment Management, Schroders and Perpetual/Invesco Perpetual. In 2008 he founded Oaktree, and believes the one thing he has picked up over the years is that no matter what lesson you have learnt, it will not apply to markets all the time regardless of how logical it seems.
His greatest personal accomplishment is completing the four peaks challenge in Ireland six weeks after breaking his ankle on his first training session.
David Loudon, Quilter
Loudon, executive director and head of onshore offices at Quilter, started his 26-year career in finance at stockbrokers Smith Keen Cutler where he was partner for three years.
He progressed to become a director at the brokerage firm Greenwell Montagu and then joined Quilter in 1992. Loudon’s greatest professional achievement has been overseeing the firm’s onshore offices since 2003 and his most valued professional lesson was to ‘apply diplomacy and avoid confrontation’.
If fate had turned him away from wealth management, he said he could see himself as a farmer but one with an able farm manager to help with the work.
David Rosier, Thurleigh Investment Managers
Oxford graduate David Rosier spent five years in the army before joining Warburg Investment Management and rising to become director at the age of 23 – something he counts as one of his two greatest professional achievements. After various takeovers, he worked as global head of Merrill Lynch Investment Manager’s private client business and left to found Thurleigh in 2003 with Charles Mackinnon – his other greatest professional achievement. The publication this year of ‘Be Bold’, a biography Rosier’s late father Air Chief Marshal Sir Frederick Rosier, is among his personal achievements.
Rosier takes a keen interest in politics and after serving as a councillor for Wandsworth during the eighties said the most difficult career choice he made was not to move into politics professionally. Probably best since he describes working in wealth management as ‘interesting, fulfilling and stimulating’.
Daniel Freedman, London & Capital Asset Management
Daniel Freedman’s investment career started at the age of 19 with Allied Dunbar, before he left aged 26 to set up London & Capital Asset Management. Now passed its 25th anniversary, the firm has $3.5 billion in assets and Freedman is proud to have built a firm which can provide continuity of service, with many of the team at the company for over 10 years.
Freedman says the best lesson he has learnt is to always treat people with respect as it always pays back in the long run, and if he hadn’t worked in investment he would have traded on his love of fresh fruit and become a grocer.
Simon Walker, Cheviot Asset Management
Simon Walker’s 20-year plus investment career began in 1988 when he joined Tilney. He was later appointed a director at the firm, and when the firm was acquired by Deutsche Bank in 2006 he was made a managing director. He left the firm to set up Cheviot’s Liverpool office in 2011.
He says interacting with people – both clients and colleagues –keeps him in the industry and counts his family as his greatest personal achievement.
Stephen Vakil, Quilter
With a career spanning over 20 years, Vakil said becoming managing director of Quilter in 2001 after its merger with Foster & Braithwaite remains his greatest professional achievement.
On a personal level, he is most proud of becoming the first chairman of the firm’s newly-formed charity, The Quilter Foundation. No doubt it promotes Vakil’s career advice which is to ‘be kind, honest and loyal’.
Vakil, who is also a keen jazz aficionado, said he would have been a trumpeter if he hadn’t entered the world of wealth management, which he did in 1983 as a graduate trainee at L Messel & Co.
His most embarrassing moment came during his first meeting with three Quilter partners, during which his leg went to sleep causing him to struggle to get up at the end.
Simon Lough, Heartwood
Simon Lough started his career at Kleinwort Benson in 1984 and moved to Banca della Svizzerra Italiana in 1991 as first vice president in their Tokyo and London offices. In 1996 he moved to Cripps Harries Hall to open the London office, becoming director of Cripps Portfolio, now Heartwood, in 2001 and has been CEO since 2008.
Lough says that getting to know clients and working with his colleagues are what keeps him in the job. He added: ‘Clients need our industry to become more professional, and I hope Heartwood can contribute in some small way to that process.’
If he hadn’t entered the world of wealth management Lough would have loved to become a professional cricket player, but says in reality he could see himself as a teacher, following in his parents’ footsteps.
David Macaulay, Rathbone
Rathbone Investment Management’s Macaulay spent ten years at Brewin Dolphin up to 1997, rising from graduate assistant to private client investment director. He then joined Merrill Lynch Private Client Asset Management, helping to set up and establish its Scottish operations. In 2000 he joined Rathbone as a regional director for the Edinburgh office and personally manages some £130 million on behalf of his clients.
Macaulay says his greatest achievement was ‘successfully integrating the acquisition of the Bank of Scotland Portfolio Management Service which doubled the Edinburgh office staff size and resulted in the equally challenging move to the current enlarged office in St Andrew Square’.
David Scott, Vestra Wealth
Prior to founding Vestra in 2007, Scott was managing partner at Scott Goodman Harris, a boutique advisory business between 1998 to 2004, when the business was acquired by UBS. He counts his greatest personal achievement as ‘building Vestra into what it is today against all odds’.
Scott says that he is kept in the industry by his desire to reduce the gap between what clients want and what the industry provides. His most embarrassing moment was turning up late for the interview for his first job at Chase Manhattan and says that his mantra is: ‘If in doubt, never do it.’
Tim Price, PFP Wealth Management
Price enjoyed stints at Paribas Capital Markets and Merrill Lynch International during the early parts of his career, before setting up the investment management division at private bank Ansbacher & Co in 2001. He is now director of investment at PFP Wealth Management.
Price says he is kept in the industry by his desire to protect people’s life savings during a period of ‘acute monetary debauchery’ as well as opening ‘people’s eyes to the dangers of state-sanctioned inflationism, unreserved banking and unsound money.’ Price says the song which best describes current market conditions is REM’s ‘It’s the end of the world as we know it (and I feel fine).’
Murray Mackay, Williams de Broë
Murray Mackay started his career at Alexanders Laing & Cruikshank in 1987 and moved to Allied Provincial in 1989. Mackay stayed at the company through its different guises of Greig Middleton, Gerrards and finally Barclays Wealth, where he was director and regional heard for the firm’s Edinburgh office. He joined Williams de Broë as an executive director in September 2008 and set up their Edinburgh office.
Indeed, joining Williams de Broë was a highlight for Mackay, as it was a big risk when 27 Barclays Wealth employees left in 2008 to set up the Edinburgh office, with ‘no clients, no revenue, a ten-year lease and a plummeting market. Now, we have funds over £500 million and have hired a further four directors since 2011’, he noted.
Richard Scott, Hawksmoor Investment Management
Scott started out as a graduate trainee at Smith New Court and then moved to Hambros Bank as an investment strategist. He then joined Exeter Investment Group, where he was responsible for managing a number of funds through a period which saw a number of ownership changes, involving deals with iimia, Miton and Midas. In 2008 he joined Hawksmoor as chief investment officer.
Scott’s greatest professional achievement was winning two Citywire fund manager of the year awards in the same year.
Rupert Caldecott, Dalton Strategic Partnership
Caldecott spent almost thirty years at Schroders before moving to Cazenove Capital Management in 2002. He joined Dalton Strategic Partnership in 2006, where he manages the global asset allocation portfolios for a wide range of clients alongside the Melchior Global Active fund.
Caldecott says his greatest achievement was predicting the 2008 crash and acting on it decisively.
Peter Thomson, Taylor Young Investment Management
Peter Thomson spent 18 years managing private client, trust and charity mandates at Gerrards, before moving to Taylor Young in 2004 to lead the investment team as chief investment officer. He became chief executive officer and head of the executive committee in 2006.
Thomson says that if he hadn’t gone into wealth management he would have liked to have taught and researched mathematics and music, and the linkage between both maths and broader art. He says the concept of shared values and how businesses can be just as profitable by following a path of shared values as the most prominent lessons he has learnt during his career.
Patrick Toes, Myddleton Croft
Toes has over 20 years’ experience in investment management and set up BWD Rensburg’s fund selection process. At Rensburg Sheppards he was formerly responsible for over £200 million in assets.
He says that over his career the most significant lesson he has learnt is ‘that great wisdom comes from the realisation of how little you know’.
Running a Japan and Far East fund has also helped him chart what he calls a ‘balance sheet recession’ in the West. He cites ensuring that portfolios are in the best possible shape to take advantage of the many opportunities that present themselves as his greatest professional achievement.
If he hadn’t gone into wealth management he could envisage a career as a racehorse breeder.