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Wealth Manager: SC Davies founder Simon Davies on making wealth creative
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by Drazen Jorgic on Aug 05, 2010 at 00:01
In an industry with low barriers to entry, differentiating your business from the competitors is a natural necessity. But for Simon Davies, the founder and chief executive of boutique private bank SC Davies, breaking the mould and providing a unique service has been a lifetime ambition.
He began his career at Lloyds but says that his formative years were spent at SG Warburg. The story of the company’s founder SG Warburg had captivated him at school.
‘As a non-establishment figure – a German Jew – who founded the bank in 1940s, as well as someone who wanted to innovate and was motivated solely by the desire to break the City mould rather than grandiose richness, he really inspired me.’
For a young lad brought up in Yorkshire’s quiet moors, a step up to a bustling London merchant bank was a big life event, Davies says
‘They paid for my further education while requiring me to turn up and do a job. It was a fantastic system of giving you experience and complementing it with qualifications.’
Davies says a five-year stint at Warburg was an excellent grounding in the way markets operate. He began in the Eurobond trading department before moving to the banking and investments division.
In 1995, aware that he wanted to gain experience in a smaller business, Davies joined Berry Asset Management as an investment manager.
Despite the appreciation of the business that Jamie Berry had built over nearly two decades, Davies says his desire to do things differently and mould the client offering to suit his vision had made him something of a ‘disruptive influence’ towards the end of his time at Berry.
‘You start developing ideas about how to do things differently and you start preferring your own team around you. There is only so long that you can be in the business before you do your own thing.’