The PAM 50 Most Influential is the definitive list of those at the forefront of shaping private client wealth management in the UK and Crown Dependencies. It is based on nominations and PAM Insight’s knowledge of the sector. The quality and quantity of nominations are considered, alongside the nominee’s position, achievements, and career progression.
The 2020 PAM 50 Most Influential is kindly supported by BNY Mellon | Pershing.
Paul Abberley, chief executive, Charles Stanley
Mr Abberley became chief executive of Charles Stanley in December 2014, having joined the firm in June that year. A graduate of Keble College, Oxford, Mr Abberley has this year announced a major restructure, while improving profit margins at the 228-year-old former stockbroker.
Previously Mr Abberley was the interim chief executive of Aviva Investors Holdings and Aviva Investors Global Services, and a member of the Aviva Group executive committee. He spent eight years at ABN AMRO Asset Management as chief investment officer for the company’s fixed income and investment solutions division as well as being chairman of the company’s London board and a member of the global executive management team.
Heinrich Adami, group managing director, Pictet
Mr Adami has been a steady hand on the tiller at Pictet in London for more than 20 years. While the bank was impacted by defensive investors in 2019, its UK division was resilient and made a series of key hires from its competitors.
Mr Adami received a law doctorate from the University of Vienna before joining the corporate finance department of JP Morgan in 1985. After three years in Frankfurt and a year pursuing a finance program in New York, he joined Morgan Private Asset Management.
Mr Adami started at Pictet in 1997 as managing director of the private client office in London, and also co-ordinated the bank’s efforts in Austria and Germany.
Chris Allen, head of global private banking EMEA, HSBC Private Banking
Mr Allen was promoted in 2018 to head HSBC’s then-newly combined private banking operation in EMEA. He has been tasked with building out the business in the region, and in December 2019 hired Citi Private Bank veteran Gavin Rankin to further develop investment services and product solutions.
Mr Allen joined HSBC in 2007 in the alternative asset division, before joining the private bank as its UK head in 2012. Prior to this, he spent ten years at Colliers International before joining Ahli United Bank as head of real estate fund management. Mr Allen is also a chartered surveyor, a member of the Investment Property Forum, and a director on the board of CISI.
Martin Andrew, chief executive, Close Brothers Asset Management
Mr Andrew was appointed chief executive of Close Brothers Asset Management (CBAM) in May 2008 having joined Close Wealth Management in 2005 as head of the firm's private client business.
CBAM’s financial results in 2019 showed resilience, despite a slight decline in profitability, and the firm made a series of senior hires from the likes of Rathbones, Smith & Williamson, Brooks Macdonald and Brewin Dolphin. Its particular focus was on building its London West End presence, as it shifted to new offices there.
Mr Andrew also restructured the firm’s investment division, with the help of departing chief investment officer Nancy Curtin.
Previously Mr Andrew was with Merrill Lynch Investment Managers (MLIM) where he worked in a range of roles both in the US and UK, including strategy, distribution and marketing, culminating in his appointment to run MLIM’s European private client business.
Christian Berchem, head of the private bank (UK), Credit Suisse
Mr Berchem became chief executive of Credit Suisse’s UK private bank in June 2017, where he is responsible for ensuring the business continues to grow. The UK private bank made a series of key hires form its rival UBS over the course of 2019.
Mr Berchem joined Credit Suisse from Barclays, where he spent the last five years at Barclays Wealth in the UK, most recently as head of the private bank for London, helping drive the key client and ultra-high net worth businesses.
He previously spent nine years at JPMorgan, where he held senior roles including head of European cash equity sales. He also worked at Merrill Lynch, Morgan Stanley and KPMG.
Richard Charnock, chief executive, Aberdeen Standard Capital
Mr Charnock is a well-known advocate for the personal investment sector. He sits on the board of CISI, and is a supporter of the Diversity Project.
Aberdeen Standard Capital’s own diversity initiatives have included programmes to promote and destigmatise flexible working, and banning candidate lists that are not suitably diverse.
In January 2019, Aberdeen Standard Capital (ASC) rebranded from Standard Life Wealth, dropping the “wealth” from its moniker, a term Mr Charnock said had become more associated with wealth and financial planning over the past decade.
Mr Charnock joined Standard Life in February 2007 with a brief to create and launch Standard Life Wealth (now ASC) to the market. He has since established it as a major provider of discretionary fund management in the UK wealth management sector, overseeing the acquisition of Newton’s private client business in 2013.
He was previously chief executive of Williams de Broe and, prior to that, chief executive of Lloyds TSB Private Banking.
Mouhammed Choukeir, chief investment officer & deputy chief executive, Kleinwort Hambros
Mr Choukeir has been chief investment officer at Kleinwort Hambros, part of Societe Generale, since 2011. He leads the investment management division, is a member of the executive committee and was appointed deputy chief executive in July 2018.
He is a regular contributor to the press, appearing on the BBC and CNBC, and is a board member for a number of charities. This past year he was made a member of the investment committee of the King’s College London endowment fund.
Back in the office Mr Choukeir also co-heads the global investment committee for Societe Generale. Prior to joining Kleinwort, he was head of multi-asset class investing at Morgan Stanley for Europe, Middle East and Asia, and spent his early career in the fixed income division of Citigroup’s investment bank in New York, London and Madrid.
Stuart Cummins, managing director and executive head, Nedbank Private Wealth
Mr Cummins joined Nedbank in March 2018. His background incorporates senior roles with Cazenove Capital, C Hoare & Co and Barclays Wealth.
His leadership style at Nedbank Private Wealth is characterised by long-term thinking, and he says all his decisions are made with a five to ten-year time horizon in mind. During Mr Cummins’ first year in the job, the business grew its headline earnings by 25 percent as a result of positive client acquisition, leading to investment, lending and fee growth.
He is a Chartered Wealth Manager, Fellow of the Chartered Institute for Securities and Investment and a Fellow of the Chartered Institute of Bankers.
Etienne d'Arenberg, head of wealth management UK, Mirabaud
Mr d'Arenberg is a limited partner and director at Mirabaud. He joined the firm in 1999 and successfully developed a CHF2.5 billion+ portfolio of clients serving a limited number of families.
He joined Mirabaud from Creditanstalt Investment Bank in Vienna where he managed the private equity and investment fund divisions. Prior to that he served as development analyst in Paris with the Compagnie Générale des Eaux.
He currently sits on the board of his own single family office and serves on the boards of several UK and Swiss charities. He is fluent in French, English, German and Italian and speaks conversational Spanish and Dutch.
Tanvi Davda, managing partner, Saranac
Ms Davda became managing partner in September 2018 as part of a revamp of Saranac’s top brass.
One of the founders of the business in August 2016, she has been responsible for the client team since inception and is now responsible for building out the start-up boutique and turning a profit. Revenue grew by more than a third this year under her stewardship.
Ms Davda started her career in 1993 as an FX Options Trader for Credit Suisse, eventually becoming a managing director at Barclays wealth in 2010. She remained there for four years before joining Saranac.
She holds a BSc in Chemistry from the University of London and an MSc in Finance from the London Business School.
Tracey Davidson, deputy chief executive, Handelsbanken
Ms Davidson was promoted in November 2019 to become the deputy chief executive of Swedish-headquartered Handelsbanken. At this time she also became chairperson of its subsidiary Heartwood Wealth Management, a business she has headed as chief executive since 2014, overseeing its integration into Handelsbanken.
Ms Davidson began her career with Barclays International in her hometown of Liverpool and continued to work in Jersey, the Channel Islands and on the South Coast of England in a variety of roles within the business and wealth management sectors. She moved to Handelsbanken in 2003 when she helped establish the bank’s branch in Southampton.
After carrying out a number of management positions within the Bank, in 2010 Ms Davidson was appointed senior vice president and head of Handelsbanken in Northern Great Britain and became a member of group management. Ms Davidson is also a PIMFA board member.
David Esfandi, chief executive, Canaccord Genuity Wealth Management
Mr Esfandi began his career at Goldman Sachs International as a financial analyst. He joined Canaccord Genuity Wealth Management in March 2014 and guided the firm towards becoming a significant player in the wealth management space in the UK, Jersey, Guernsey and the Isle of Man.
He was previously managing director of Ashcourt Rowan Asset Management, where he played a key role in its recapitalisation and restructuring.
Before that, he spent 10 years with Deutsche Bank, latterly as director of Proprietary Pan European Equity Investment. He holds an MA in PPE from Oxford University.
David Durlacher, chief executive, Julius Baer International
Mr Durlacher is chief executive of Julius Baer International Limited in London, responsible for Julius Baer's business in the UK and Republic of Ireland.
He is described by staff as a softly-spoken and principled leader, with a clear vision for the business. Over the last year, the firm invested in people, premises, and technology, while emphasising the focus on wealth planning through key hires.
Mr Durlacher is also a director of the board of Julius Baer International Limited. He joined Julius Baer from Merrill Lynch International Wealth Management UK when the business was acquired in 2013.
In the previous 14 years at Merrill Lynch, Mr Durlacher held a number of roles, originally joining the business as an associate financial adviser. He sits on the British Museum chairman's advisory board.
James Fleming, chief executive, Sandaire
Sandaire has evolved over the past two years with Mr Fleming as chief executive. Driven by Mr Fleming, Sandaire has embarked on an ambitious five year growth plan to ensure the firm is responding to the ever-evolving demands of its clients, while ensuring a strong culture internally and staying true to the values of Sandaire’s founders, the Scott Family. Under Mr Fleming's guidance and leadership Sandaire is entering into its next chapter, with the business’ 25th anniversary approaching in 2021.
Over the last 10 months he has been fundamental in the launch of a diversified client offering for Sandaire, with the launch of Sandaire Corporate Finance, Sandaire Real Estate and an enhanced Sandaire Private Equity service.
With over 30 years of experience, Mr Fleming joined Sandaire in 2017 from Arbuthnot Latham Private Bank where he held the role of Chief Executive and then latterly the role of Vice Chairman.
Karen Frank, chief executive, Barclays Private Bank and overseas services
Ms Frank joined Barclays in 2012 as a managing director in the Financial Sponsors Group (FSG) and was appointed co-head of FSG for EMEA in 2013, before becoming head of the private bank in 2016.
Ms Frank began her career in private equity in 1992, working in Goldman Sachs’ Principal Investment Area in New York and London, and continued working in private equity with AEA Investors and Compass Partners International.
In 2005, she was asked to join Goldman Sachs’ Investment Bank to build the firm’s middle market Financial Sponsors business. She earned her MBA from Harvard Business School and graduated from Georgetown University with a degree in Economics.
Chris French, managing director, Goldman Sachs
Mr French has led private wealth management for Goldman Sachs in Europe, Middle East and Africa since 2004.
The bank says it helps "clients pursue their wealth management goals through careful advice, astute investment management and access to the capabilities and network of Goldman Sachs".
Mr French oversees a team of "carefully" selected advisers who undergo a "rigorous training curriculum that continues throughout their careers”.
Peter Flavel, chief executive, Coutts
Mr Flavel joined Coutts as chief executive in March 2016, and set about modernising the 1692-founded private bank, while respecting tradition.
An Australian, Mr Flavel has embraced and publicised more of the story behind the bank, including its commitment to sustainability evidenced by its rooftop garden and beehives.
Prior to Coutts Mr Flavel was chief executive of JP Morgan Private Wealth Management, responsible for overseeing and expanding the high net worth business and client base in Asia Pacific. He was a member of the wealth management global operating committee. He also spent nine years with Standard Chartered, establishing its global private bank in 2006.
Mr Flavel holds degrees in Law and Economics and has attended the Advanced Management Programme at both Harvard Business School and the University of Oxford.
Peter Hall, global head of wealth management, Schroders
Mr Hall took up the mantle as global head of wealth management for Schroders in January 2019. He has since played a part in re-shaping Schroders’ wealth arm, not only by helping to oversee the joint venture with Lloyds, but by building out the business in Asia through strategic acquisitions.
Mr Hall has extensive wealth management experience having held a number of leadership roles over the last 20 years in the UK, US and Europe with Barclays, UBS and Tilney.
As chief executive of Tilney, he led the UK wealth management business through a period of major growth and investment in client service excellence. He stepped down in October 2017 after seven years at the helm and more recently was an adviser to Tilney’s parent company Permira on pursuing investment opportunities in global wealth management.
Alexander Hoare, partner & director, C Hoare & Co
Mr Hoare is the first of the eleventh generation at C Hoare & Co.
Prior to joining the bank, he worked as a marketing consultant for PA Consulting Group up until 1987.
He served as chief executive of the bank from 2001 to 2009. Formerly a trustee of Training for Life and Trinity Hospice, Mr Hoare was also a non-executive director of Jupiter Green Investment Trust, president of the Groupement Européen de Banques and also a member of the Westminster Abbey Finance and Advisory Council.
He is active in the field of social and impact investing.
Michael Kerr-Dineen, co-founder, Vermeer Partners
Mr Kerr-Dineen’s new venture, Vermeer Partners, had attracted more than £1 billion in client assets by October, just four months after its official launch.
Mr Kerr-Dineen is known in the City for his ability to generate staff loyalty and entice former colleagues to join him when he shifts firms.
He carved Laing & Cruikshank out of Credit Lyonnais before it was sold to UBS in 2002, but found that at UBS investment managers were under undue pressure to sell in-house products.
He then, in 2006, orchestrated a defection of 50 staff when he set up his own venture, Cheviot Asset Management. Cheviot was subsequently acquired by Quilter, then owned by private equity house Bridgepoint, in 2012. In turn Quilter Cheviot was acquired by Old Mutual in 2015.
The staff at Vermeer in fact contains a number of individuals who have accompanied Mr Kerr-Dineen on the career trajectory outlined above.
Jeremy Knowland, market manager for the UK, Citi Private Bank
With more than 10 years of service at Citi Private Bank, Mr Knowland has overall responsibility for the bank’s relationships with ultra-high net worth clients in the UK.
Previously, he was at Barclays Private Bank as head of the onshore investment advisory team. Mr Knowland is a qualified accountant, holds the Chartered Financial Analyst designation, and is an affiliate member of the Chartered Institute for Securities & Investment.
James Lawson, partner, Tribe Impact Capital
At Tribe, where the motto is “a new wealth order”, Mr Lawson works with clients and is also responsible for business development, thought leadership and operational excellence.
He helps clients to get the financial returns they need, using the values they care about, to generate the change they want to see, which is particularly topical given the industry’s increasing focus on ESG.
Mr Lawson has over 18 years’ experience in wealth management and entrepreneurship, having started as an associate director at UBS Wealth Management where he looked after private clients.
In 2003 he founded the specialist consultancy, Ledbury Research, helping wealth managers and others to understand their clients.
Brett Lankester, chief executive for London, Union Bancaire Privee
Mr Lankester became UBP’s London chief executive in 2018, following the firm’s acquisition of ACPI, where he was chief executive.
He joined ACPI in 2007 as managing partner, before becoming chief executive in 2009 with responsibility for the organisation’s private wealth management and global distribution functions.
Previously, Mr Lankester was with Goldman Sachs for 14 years, most recently as managing director and head of UK business for the private wealth management division....