Rob Leedham, chief executive, Yealand Fund Services

Yealand Administration and Carvetian Capital Management have consolidated to form Yealand Fund Services. Both firms offer a range of advisory, fund management and Authorised Corporate Director (ACD) services.

Following several years of having an integrated operating model, the decision to trade under the new name was taken following client and sponsor research, which found the two company approach was not ideal.

The new firm will look to expand its ACD services and fund administration offering via a single pathway to the activities.

Rob Leedham, chief executive at Yealand Fund Services, said: “As we look to the future, we want to provide clarity for our clients, reflect the full breadth of service we provide and stand behind one name.

 “Consolidating our service behind the Yealand name is a significant step on our continuous journey.”

Mr Leedham will be the chief executive of the new firm, having held the same role at Yealand Administration.

He brings of 20 years of experience to the firm, having had previous positions at Maitland Funds, Man Group, Societe Generale Asset Management, BNY Mellon and BNP Paribas.

Founded in 2008, Yealand is an independent host ACD, advisory and fund administration firm. It is headquartered in Peterbourgh, England, and employs over 30 administrators and advisers.

The role of ACD firms has come under scrutiny following the collapse of the Woodford UK Equity Income Fund, a large UK fund which had to be suspended. The FCA is carrying out an investigation on the role of ACDs alongside its investigation into Woodford.