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Wealth Manager: Michael Kerr-Dineen on battling UBS
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by Dylan Lobo on Jul 16, 2010 at 08:30
Michael Kerr-Dineen has the battle-hardened look of someone who has fought tooth and nail to get to where he is today.
The man who convinced around 80 individuals to quit UBS to form his wealth boutique Cheviot in 2006 is one of the industry’s more outspoken figures.
He accepts this aggressive approach leaves him with his fair share of detractors but says this is the price of success. ‘I have always been moral and straight, and people can accuse me of many things but they can’t say I haven’t done things without complete honesty.’
Cheviot is an independent partnership, which he says is the best structure for the delivery of a personal service for clients.
‘There are no conflicts of interest as we are all partners. There are no promises that can’t be met here and we don’t waste time. This is a front office-driven system.’
He says key to Cheviot’s success is the combination of a dedicated investment team alongside a highly personalised relationship with clients. Its proposition includes chief investment officer Alan McIntosh and former Citywire Wealth Manager cover star David Miller.
Cheviot’s investment process combines a ‘top-down’ view with rigorous bottom-up analysis. Its investment team has a broad depth of experience across nine asset classes, including alternatives such as hedge funds, private equity, structured products and derivatives.
Where it identifies an opportunity and is unable to find an appropriate investment, Cheviot has worked with the likes of Goldman Sachs, Barclays and Merrill Lynch in the past to develop bespoke investments. Added to this, it has also launched two bespoke funds itself in the gold and socially responsible investment sectors.
Starting life at the Bank of England he moved on to the state-controlled British National Oil Corporation (BNoC) before it was privatised, and he transferred with his mentor Sir Alastair Morton to the Guiness Peat business.