Rathbones raids three rivals for quadruple hire

Rathbone Investment Management has completed a four-strong hiring spree from rivals Brewin Dolphin, Newton Investment Management and Turcan Connell.

The private client investment manager, which has been particularly active on the recruitment front over the past six months, has hired Tony Milner and Caroline O’Callaghan from Brewin’s Lymington office. Both were divisional directors at the firm, having worked at the company for over 10 years.

A spokesperson for Brewin Dolphin said Rob Carroll, head of the Lymington office, and investment manager Hannah Knight would take over the responsibilities of the two managers.

Rathbones has also sought to boost its London team with the hire of James Neill from Newton Investment Management, where he was an associate director. His hire follows that of Peter Anwyl-Harris, who joined Rathbones last year from Newton.

Neill is set to join as an investment director and will report to Richard Smeeton, who heads Rathbones’ London office. His departure follows a period of upheaval at Newton, marked by the recent departure of CIO Philip Collins and Simon Pryke stepping back as head of the private client business to take on the role of CIO. Pryke has been replaced by Caroline Tye as head of private clients.

Rathbones is also expanding its Edinburgh team with the hire of Evangelos Assimakos from Turcan Connell.

Assimakos, who was featured in Citywire’s Top 30 under 30 wealth managers last year, will report to David Macauley, head of the Edinburgh office.

His hire follows that Keith Mackenzie from Williams de Broë’s Edinburgh team.

Over the year to the end of December, Rathbones’ private client division saw assets under management rise from £14.59 billion to £14.76 billion, with organic net inflows rising from £1.46 billion to £1.66 billion. Underlying net operating income also rose by 13% to £135.1 million over the 12 month period.