A look back at the most read stories on thewealthnet last week....
10.
Citi Private Bank appointed Richard Weintraub as head of its family office group for the Americas, an internal memo seen by thewealthnet confirmed.
Based in New York, Mr Weintraub will join the bank on 7 May and report to Hannes Hofmann, global head of family office.
He will join Citi from UBS’ global family and institutional wealth team, where he was an executive director.
9.
MKC Wealth, an independent wealth manager backed by Cabot Square Capital, appointed Sarah Waring as financial planning director.
Ms Waring joined the firm from Quilter, where she led its private client financial planning team. She joined Quilter in 2015 to set up its Chester office before being promoted in 2018 to client and proposition director.
Her career began as an IFA at Buckles Investment Services, subsequently Sanlam Wealth Planning, where she was promoted to regional sales manager.
8.
Philanthropy looks very different now to how it looked a decade ago. With charities and donors both having greater awareness of the topic, the way donors choose to give is changing. [Read more from Sophia Panayi]
Barclays has recently updated its Guide to Giving and made it public for the first time. The guide is designed to help donors navigate the fast-evolving world of modern giving.
England and Wales currently have 180,000 registered charities, which can make selecting an organisation to support challenging. The guide aims to assist donors in choosing the right donation plan for them.
7.
Seven Investment Management (7IM) acquired Eastcote Wealth Management as it continues to execute its growth plans following its buyout by Ontario Teachers Pension Plan.
Eastcote Wealth Management is a financial planning and independent advice firm based in Solihull.
Its 12 financial planners manage £430 million of assets for 735 clients.
6.
“Are private equity firms set to precipitate a wave of consolidation within the UK wealth management sector,” a perceptive article published on thewealthnet in March 2011 asked.
Thirteen years later, the answer to this question seems very obvious given the number of private equity firms active in the sector and the acquisition deals they have financed since 2020.
There are at least 30 private equity firms currently active in the UK wealth management sector. Barely a week goes by without the announcement of yet another firm being taken private. [Read more from Ian Orton]
5.
Irwin Mitchell’s financial planning business IM Asset Management appointed wealth manager Stewart Sanderson as chief executive, following his predecessor Richard Pott’s retirement.
Mr Sanderson joined IM Asset Management from Brooks Macdonald where he was a senior director and led the UK private client proposition, advising key clients on their wealth management needs.
He has over 25 years’ experience of UK wealth management gained at firms including Seven Investment Management, Lloyds Private Banking and Coutts & Co.
4.
Wealth management firm Saltus appointed Bronek Masojada as chairman to support the firm’s growth agenda, particularly its plans to scale its partnership programme.
With experience gained from his previous role as chief executive of Hiscox, Mr Masojada should bring valuable insights to the Saltus board, as the company continues its path of rapid growth.
Mr Masojada will play a central role in guiding the company’s next phase, ensuring the integrity of Saltus’s founding principles remain core to how the firm operates.
3.
The latest UK inflation figures are being “hailed as good news” by many wealth managers, with inflation falling to its lowest level since September 2021.
Year-on-year UK inflation stood at 3.4 percent in February, down from 4.0 percent in January. However, core inflation remains stubborn, coming in at 4.5 percent in the 12 months to February, down from 5.1 percent a month earlier. [Read more from Katie Royals]
2.
Lombard Odier Investment Managers (LOIM) appointed Mona Shah as a senior sustainability strategist.
In this role, she will be responsible for developing sustainable investment solutions for clients, working closely with LOIM’s holistiQ sustainability research and investment teams.
Ms Shah will join LOIM from Stonehage Fleming, where she was head of sustainable investments for the past five years.
1.
A new boutique investment management firm Magellan Research & Investment (MRI) launched, offering a range of actively managed, risk-adjusted model portfolios.
Kieran Follis teamed up with P1 Investment Services (P1) to launch the boutique firm.
Magellan model portfolios will be available on several advisory platforms as well as the P1 Platform. [Read more from Katie Royals]