View the article online at http://citywire.co.uk/wealth-manager/article/a730373
Salamanca hires ex-Goldman Sachs man to head group strategy
by Elsa Buchanan on Jan 27, 2014 at 10:56
Salamanca Group is strenghening its ranks with the appointment of Martin Devenish as group head of strategy, and main board director.
Devenish held a number of senior roles in equity capital markets during his career at Goldman Sachs, which spanned over 20 years, during which time he led a range of strategic initiatives as partner and most recently as an advisory director.
In his new role, Devenish will shape Salamanca Group's business strategy and develop new opportunities.
Commenting on the appointment, Martin Bellamy, chief executive of Salamanca Group and former Wealth Manager cover star, said: 'We are very pleased to welcome Martin [Devenish] to this newly created role, which will enable him to draw on his extensive knowledge of capital markets across the globe to help drive the strategic direction of the group.
'He will also be involved in developing new business opportunities and steering the future positioning of the business. His appointment significantly bolsters our senior management team.'
Recently, Bellamy announced he was looking to expand into wealth management, taking the decision to focus purely on advisory.
‘We will not build an asset management business per se, because there are people out there that do it much better than we could, yet we should be good at selecting managers that do it really well,' he said.
The group offers a range of investment services across real estate, private equity, along with corporate risk management and advisory services, including mergers and acquisition, capital restructuring and capital raisings. It also provides research and intelligence, and a standalone private clients service. It is into this service that the wealth advisory business will be integrated.
In October, the firm acquired Investec's trust service, and its £4.5 billion in assets under management.
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