Counting down the top stories from thewealthnet last week...
10.
In recent months, there has been an increase in the number of wealth management firms achieving Chartered Institute for Securities and Investments (CISI) Chartered status.
thewealthnet spoke to two of these firms to find out why this accolade is so important to wealth managers.
CISI said its Chartered status is designed to demonstrate that a firm has met the eligibility criteria, namely that it is “operating at the highest levels of trustworthiness and professionalism”.
9.
Forget about the “S” and “G” in ESG investing. For many investors it is all about the “E” for environmental and in particular climate change.
Therein rests an inconvenient paradox.
Many of the firms favoured by ESG proponents, which often tend to be technology or IT-related companies, have insatiable appetites for electricity, much of which can only be supplied through increases in fossil fuel production. [Read more from Ian Orton]
8.
The newly formed House of Lords financial services regulation committee expressed its disappointment in its recent communications with Nikhil Rathi, the chief executive of the Financial Conduct Authority (FCA).
In a letter, the committee said it was disappointed at the response it received to its letter to him regarding his plans to publicise enforcement investigations.
The committee had highlighted its concerns about the FCA’s proposal to announce in advance its enforcement investigations into firms, suggesting it risks undermining the principle of "innocent until proven guilty".
Mr Rathi will be invited to appear before the committee once it has had a response to its call for evidence.
7.
Wealth management firm Saltus promoted Charles Ambler to co-chief investment officer.
In his new role, Mr Ambler will oversee all aspects of portfolio construction, from asset allocation to fund selection and risk monitoring.
Additionally, he chairs the investment committee and is an active member of the asset allocation committee.
6.
Harry Jack, head of Pan European equity research at Schroders, was reported to be joining Cazenove Capital, reporting to Clare Anderson, global head of Schroders family office service, in June 2024.
He has 19 years of experience in the European equities sector at Schroders and will work with high net worth clients in his new role.
Beginning his career as an analyst at Schroders, he covered the UK market, before expanding his brief across Europe.
5.
Alpha Bank partnered with private markets firm Partners Group to provide its private wealth clients with access to private markets for the first time.
Alpha Bank is Partners Group's first distribution partner in Greece.
The partnership will primarily be focused on providing access to Partners Group's private equity and infrastructure investments, with a particular focus on Europe and the US.
4.
PAM Insight, thewealthnet’s parent company, released its special report celebrating the 2024 PAM Awards, which this year was celebrated at a black tie gala dinner at the Royal Lancaster hotel on the 14th March.
The awards programme, now in its 26th year, is recognised as the most robust and reliable within the UK’s private client advisory community.
Congratulations to the companies who were named as commended firms, finalists, or winners, and thank you to all those that took time to submit an entry.
3.
Investec appointed Shivani Goolab as head of private client lending in its real estate team.
Having joined Investec’s real estate team in 2015, Ms Goolab has since closed over £500 million of real estate loans in both the development and investment space across all real estate asset classes.
In 2021 she received an MBA from Columbia Business School.
Ms Goolab initially joined Investec's Chartered accountants training programme in 2012.
2.
Data from PAM, part of PAM Insight, thewealthnet's publisher, revealed which private asset managers in the UK and Crown Dependencies are increasing their assets under management (AUM) the quickest.
This research examines the 10 firms that have grown the most by total AUM in the past three years.
As a result, the firms featured in the top 10 are among the larger private asset managers in the UK. Indeed, all 10 feature in PAM's top 20 managers by AUM in the UK and Crown Dependencies. [Read more from Amit John and Katie Royals]
1.
Coutts launched a diversifying alternatives multi-manager fund in partnership with JP Morgan Asset Management (JPMAM), boosting its investment management offering, Katie Royals reports.
The liquid alternatives solution will be available exclusively to Coutts and NatWest clients from today (30/04/2024).
The fund has been designed to generate returns with low sensitivity to traditional markets, and utilises managed account technology, offering diversification benefits, a customised experience and acting as a complement within a multi-asset portfolio.