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You're hired! 20 wealth moves which got you talking in 2012

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on Dec 20, 2012 at 07:14

There were plenty of coming and goings this year as wealth firms got their businesses into shape for RDR. We highlight some of the moves which attracted siginificant interest among our readers.

Brewins Aberdeen office hit by five redundancies

Brewin Dolphin made five redundancies at its Aberdeen office in a move that saw a further reduction in headcount at the office.

Investment manager Susanne Evans – who was promoted to the role in November 2011 – departed, alongside business development manager Susie Kidd and another member of her team. Two administration staff were also made redundant.

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Ashcourt Rowan creates CIO role of ex-Close man

Ashcourt Rowan hired former Close Asset Management investment director Toni Meadows (pictured) as chief investment officer (CIO) as part of an overhaul of its investment process.

Meadows, who joined from Broadstone Pensions & Investments, took up the newly created post with immediate effect.

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JM Finn poaches four-strong team from Brewins

JM Finn & Co lured a quartet of senior investment managers from Brewin Dolphin for its London office.

David Stevens, David Roblin, Susannah Boanas and Howard Cockburn joined JM Finn’s private client service in similar roles to the ones they held at Brewins, where all four were divisional directors.

JM Finn chairman James Edgedale (pictured) said of the hires: ‘We are delighted to be recruiting this fantastic team, which will bolster our private client offering. We very much look forward to working with them.’

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Invesco Perpetual hires SLI multi-asset team as trio depart

Invesco Perpetual hired David Millar, Dave Jubb and Richard Batty from Standard Life Investments to build a new multi asset group, developing its existing Atlanta-based multi asset capability.

Millar (pictured), Jubb and Batty were part of SLI’s multi asset team, where they helped run the firm’s £12 billion GARS fund.

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Brewins hire four from Barclays for Ipswich launch

Brewin Dolphin hired a four-strong team from Barclays Wealth to spearhead the opening of a new Ipswich office, expanding the wealth manager’s stable to 42 branches.

Andrew Wheeler, Toby Sellers and Matthew Shields, and portfolio manager Nick Barber were all set to front the new branch, which sits alongside Brewin’s Norwich office, headed by Richard Larner.

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Adam & Co hires new investment head in management shake-up

Adam & Company shook up its management structure with a raft of changes resulting in managing director Graham Storrie's role being expanded and Dickson Anderson, formerly of Scottish Widows Investment Partnership (SWIP), appointed head of Adam Investment Management.

Storrie (pictured) took over as chief executive officer of Adam Investment Management, the bank's discretionary investment arm, while Anderson joined in the newly created role of head of Adam Investments, responsible for managing the discretionary portfolio management business on a day-today basis. He was formerly head of product development at SWIP and managing director in Europe at Franklin Templeton.

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Mallinckrodt replaces Robinson as Schroders UK Private

Rupert Robinson, chief executive officer (CEO) of Schroders UK Private Bank, left his position with his role being handed to Philip Mallinckrodt.

Robinson, a former Wealth Manager cover star, joined Schroders in 2002 from Beaumont Capital LLP, a specialist wealth management firm.

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Brewins hires SG Hambros financial planning head

Brewin Dolphin boosted its financial planning and charities teams with four senior hires, including John Fletcher, former head of financial planning at SG Hambros, and Barclays Wealth’s ex-head of charities Anthony Behrens.

Fletcher joined as a director in Brewin’s financial planning division alongside Nicholas Burt, formerly of Rathbones.

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Coutts hires Credit Suisse Wealth planning head

Coutts appointed former Credit Suisse managing director Steve Griffiths as head of tax and wealth structuring as it saw increased demand for tax and financial planning.

Griffiths joined the private bank’s London office in the newly-created role to oversee the growth of tax and wealth structuring across UK, Asia and Switzerland.

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Investec hires Guinness’ Nelson & Newton’s Whall for energy arm

Investec hired Tom Nelson from Guinness Asset Management and Newton Investment Management analyst Charles Whall to plug the gaps in its global energy team.

Both joined as co-managers and the appointments came after previous managers Jonathan Waghorn and Mark Lacey left the firm to join commodities traders Mercuria Global Energy Solutions.

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GAM hires Quilter’s Hepworth and McDaid to lead outsourcing arm

Former Quilter head Charles Hepworth joined GAM to lead its discretionary fund management service.

Hepworth, who was responsible for Quilter’s managed portfolio service (MPS) from 2001, joined as investment director alongside Quilter senior associate James McDaid who joined as an investment manager.

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Six Ashcourt managers head for Walker Crips in 425k deal

Six investment managers will move from Ashcourt Rowan's Savoy Investment to stockbroker Walker Crips.

UK wealth manager Ashcourt, which is headed up by Jonathan Polin (pictured), received £425,000 in return for the managers. Walker Crips has also agreed to cover third party costs associated with this transaction, up to a maximum of £120,000.

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Arbuthnot hires private banking head from Coutts

Arbuthnot Latham has kick started its ambitious expansion plans with the appointment of a new head of private banking from Coutts.

Liz Bottomley worked as senior manager and client partner in Coutts' international banking division. She has worked in private banking and wealth management for 25 years and Arbuthnot says her hire is one of a string of planned additions to the senior team.

The private bank's new chief executive James Fleming (pictured) said: 'I am extremely pleased that Liz is joining Arbuthnot Latham in what is a key role for the bank, Liz comes to us with a wealth of experience in the private banking field and her leadership and client management skills will help us as we grow our client base.'

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Williams de Broe CEO Phillip Howell steps down

Williams de Broë chief executive Philip Howell resigned and was replaced by Investec Wealth & Investment chief Jonathan Wragg.

Wragg (pictured) took over as CEO of Williams de Broë and headed up the combined group from September. Howell had served at Williams de Broe since 2010 and had overseen the acquisition of the wealth management business' parent Evolution Group by Investec last year.

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Jupiter hires Schroders’ Clark to head private client division

Jupiter Asset Management appointed Andrew Clark as head of private clients and charities, leading a 24-strong team.

Clark, who has 17 years’ experience in the wealth management sector, joined the firm in early December.

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Saunderson House hunts for new chief as Fletcher exits

Advisory firm Saunderson House’s chief executive Nick Fletcher stepped down from the company and was replaced by interim managing director Tony Overy.

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Stephen Lansdown to step down from Hargreaves’ board

Stephen Lansdown (pictured, right) resigned as an executive director of Hargreaves Lansdown and taken up a non-executive position at the company.

Lansdown said he had stepped down from the executive position in order to pursue his other interests.

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Brown Shipley Graham Auld to retire

Brown Shipley’s veteran wealth manager Graham Auld retired after more than 40 years in the industry.

Auld (pictured), who headed up the Edinburgh-based investment team, retired in September but plans to remain closely connected to the private bank on a consultancy basis.

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Charles Stanley hires London team from Barclays Wealth

Charles Stanley continued its hiring spree, bringing five new faces into its London office as a former Barclays Wealth team completes its move across the City.

Tom Scarborough and Richard Uzupris, who are both investment managers, joined the firm from Barclays Wealth, supported by Julia Parkin, with investment managers Matthew Guy and Joanna Danes to finalising their moves in July and August respectively.

All of the new recruits report into Charles Stanley group director Michael Clark (pictured), who said: ‘We are delighted to be welcoming these experienced investment managers and their assistants which shows Charles Stanley’s continued ability to attract talented individuals and teams.’

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Brooks hires ex-Credo strategy head Gemma Godfrey

Brooks Macdonald bolstered its team with the hire of Gemma Godfrey, Credo Capital’s former investment committee chair, as head of investment strategy.

Godfrey, a former Wealth Manager cover star, took a leading role in formulating and communicating Brooks’ economic research for clients and advisers and take responsibility for expanding Brooks’ profile in the media, which the firm said represents a key strategy for business growth.

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