The 2021 PAM 50 Most Influential revealed

News Team, 25/01/2021

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 leadership, achievements, and career progression – particularly in the preceding 12 months. Firm performance and reputation is also taken into account.

Constituents are listed alphabetically by surname – use the ctrl+f function to search for a particular name or firm.

If you have questions about this initiative, please contact thewealthnet’s editor Alex Newlove on

The 2021 PAM 50 Most Influential is kindly supported by BNY Mellon | Pershing.

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.

He 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 programme 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 co-ordinated the bank’s efforts in Austria and Germany.


Martin Andrew

Chief executive, Close Brothers Asset Management (CBAM)

Mr Andrew joined Close Brothers group in 2005 and has been chief executive of the wealth management division (CBAM) since 2008.

Under Mr Andrew’s leadership CBAM has enjoyed significant growth, both organically and via strategic acquisitions. CBAM has also attracted a number of new hires recently from Rathbones, Brewin Dolphin, and others.

Over the last year other milestone events include the Mayfair office (opened in 2019) achieving more than £1 billion in assets under management as well as the opening of a new Chester office.

An alumnus of Merrill Lynch and McKinsey, Mr Martin holds a first-class degree in Economics from Leicester University and an MBA from Harvard Business School

Mr Martin’s other interests include sailing, cycling, hiking, and wine.

Barbara-Ann King

Chief commercial officer, Investec Wealth & Investment

Ms King joined Investec W&I in 2020 and has been charged, along with chief executive Ciaran Whelan, with transforming it from a traditional discretionary investment manager to a more “holistic” service, targeting wealthier clients alongside expanding its existing six-figure account base.

Ms King trained as a lawyer before being headhunted by Citi to set up its alternatives department.

She was the global head of alternative investing for Citigroup by the time she left in 2006 to take a similar role within Barclays, where she moved on to head the stockbroking business, before forging a new role as the bank's ‘global head of female clients’. Here she assisted bankers and advisers in engaging with women clients, making her an experienced diversity advocate.

She left Barclays in 2014 and has since worked for Porcelain, a family business focussed on communications, where she held a myriad of roles including a focus on M&A and restructuring.

Robin Beer

Chief executive, Brewin Dolphin

Mr Beer joined Brewin Dolphin in 2008 and officially took over as chief executive in June 2020.

Mr Beer’s deep knowledge of the firm – and the sector at large – helped propel Brewin to a successful 2020, in which profits held up and revenue increased. He also helped manage the integration of the former Investec wealth business in Ireland.

In November 2020 he bought an additional £100,000 stake in the firm to underline his commitment to it.

The firm later took the decision to reduce its dividend for 2020, allowing it more flexibility to invest for the long-term.

Mr Beer started his career with National Australia Bank before joining Barclays Wealth where he was a regional investment manager. He is a member of the Institute of Directors.

Charles Boulton

Chief executive, HSBC Private Bank UK

Mr Boulton was appointed chief executive officer of HSBC’s UK private bank in 2018. He has been at the bank for 12 years in a series of senior roles, including UK market head.

Under his leadership, HSBC Private Bank won the 2020 PAM Award for ‘Total Wealth Solutions Provider – Ultra High Net Worth’.

Mr Boulton has overhauled the international offering and made a series of key hires, acting as an advocate for the private banking business as the wider wealth and retail banking divisions are restructured. Performance within the private bank was relatively resilient in 2020.

Mr Boulton started his career as an accountant with Deloitte, before spending more than a decade at Bank of Bermuda.

Richard Charnock

Chief executive, Aberdeen Standard Capital

During 2020 Mr Charnock was handed additional responsibilities as a member of the leadership team of Standard Life Aberdeen – a vote of confidence in him by group chief executive Stephen Bird.

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 (ASC’s) own diversity initiatives have included programmes to promote and destigmatise flexible working (even before the pandemic), and banning candidate lists that are not suitably diverse.

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 respected provider of discretionary fund management in the UK wealth management sector, overseeing the acquisition of Newton’s private client business in 2013.

Before this he was chief executive of Williams de Broe and, prior to that, chief executive of Lloyds TSB Private Banking.

ASC won the 2020 PAM Award for Innovation.

Mouhammed Choukeir

Chief executive, Kleinwort Hambros

A regular constituent of our ’50 Most’ list, Mr Choukeir appears for the first time this year as the chief executive of Kleinwort Hambros, having previously been its deputy chief executive and chief investment officer (CIO).

Mr Choukeir has set himself a series of ambitious targets for the bank, including growing it from managing £15 billion (including loans) to more than £20 billion within five years.

He plans to implement a digital roadmap and transform Kleinwort into a leading institution that is responsible in all aspects in its dealings with clients, employees, and the wider world. Under his leadership as CIO, the investment team secured multiple industry awards and accolades for excellent investment performance.

Client contact was up more than 70 percent in 2020, as part of push to reassure clients virtually during the pandemic.

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.

Caroline Connellan

Chief executive, Brooks Macdonald

Ms Connellan joined Brooks Macdonald (BM) as its chief executive in 2017, prior to which she led the transformation of HSBC’s UK wealth and premier divisions.

In 2020, the £15.5 billion-AUM firm hired actively, agreed a major technology deal, strengthened its ESG team, and settled the £9 million acquisition of Lloyds’ Channel Islands wealth business. Its financial performance was also enviable.

Prior to BM, Ms Connellan held a number of senior corporate roles, including group strategy director at Standard Life. She also had extensive experience in the wealth and asset management sector as a consultant at McKinsey.

Ms Connellan is a member of the Investment Association board and has joined the Government’s Asset Management Task Force.

Stuart Cummins

Managing director and executive head, Nedbank Private Wealth

Mr Cummins joined Nedbank Private Wealth (Nedbank PW) in March 2018. His background incorporates senior roles with Cazenove Capital, C Hoare & Co and Barclays Wealth.

During 2020 Nedbank PW made several key hires, including the strengthening of its compliance function. The firm was again listed in The Sunday Times's Best 100 Companies to Work For (the only private bank to make the ranking).

Mr Cummins’ leadership style is characterised by long-term thinking, and he says all his decisions are made with a five to ten-year time horizon in mind.

In addition to his strong leadership of Nedbank PW, Mr Cummins is a member of the UK Finance Private Strategic Advisory Committee. This is made up of around ten private banking chief executives, who are consulted by the primary UK Finance Board on government policy, regulatory change, financial crime, and industry development.

Mary-Anne Daly

Chief executive, Cazenove Capital

Ms Daly has been chief executive of Cazenove Capital, Schroders' UHNW wealth arm, for over 17 years, beginning in November 2001.

In 2020 she helped oversee one the UK wealth management sector’s most important deals, as Cazenove and Schroders bought multi-family office Sandaire. Cazenove was also a finalist in six PAM Awards categories – speaking to the ongoing all-round quality of the firm’s offering.

The firm also made a series of significant hires and got plans off the ground to expand – Cazenove intends to open a new office in Manchester during the first quarter of 2021 and to establish a local presence in Bristol, Birmingham, and Leeds thereafter.

Ms Daly was formerly a director at Baring Asset Management, working in both Paris and London. Throughout her career, she has also held senior positions at ING Investment Banking and JP Morgan Chase.

Etienne d'Arenberg

Partner and head of wealth management UK, Mirabaud

Mr d'Arenberg joined Mirabaud in 1999 and successfully developed a CHF 2.5 billion+ portfolio of clients serving wealthy families. He joined from Creditanstalt Investment Bank in Vienna where he managed the private equity and investment fund divisions.

While Mirabaud’s income was down year-on-year in 2020, Mr d’Arenberg said this was due to a long-term outlook – clients were more likely to be defensively positioned and the firm did not need to participate in the flurry of buying and selling which drove up revenue at some competitors.

Mr d’Arenberg said the firm wished to reiterate its commitment to the UK – a market it has been present in since 1991 – in the age of Brexit and more generalised global turbulence. The firm hired two new client advisers late 2019 who cover the UK.

Mr d’Arenberg also 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 can speak 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, she has been responsible for the client team since its 2016 inception and is now responsible for building out the start-up boutique and turning a profit. Revenue grew three-fold in the most recent year for which results are available (2019).

The firm also appointed industry veteran Martin Gilbert as a non-executive director during 2020.

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 now-rebranded 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 several 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 Durlacher

Chief executive, Julius Baer International

Mr Durlacher is chief executive of Julius Baer International (JBI) in London, responsible for Julius Baer's business in the UK and Republic of Ireland.

JBI’s revenues increased 16 percent year-on-year in 2020, the result of impressive net new money.

Prior investment into technology meant a seamless transition to remote working and communication with clients and prospects.

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.

David Esfandi

Chief executive, Canaccord Genuity Wealth Management

Mr Esfandi has presided over strong growth at Canaccord Genuity Wealth Management (CGWM), with client assets up 18 percent year-on-year, according to PAM data.

In 2020 the firm experienced record-breaking trading volumes and ongoing net inflows into the UK discretionary managed service.

Mr Esfandi is known for his focus on culture and staff engagement, an area he has continued to prioritise under lockdown.

He began his career at Goldman Sachs International as a financial analyst. He joined CGWM 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.

Mr Esfandi 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.

Peter Flavel

Chief executive of private banking, NatWest group

In 2020 the chief executive of Coutts took on an expanded role, as Coutts was put at the heart of NatWest’s new wealth management division.

The promotion was not a surprise to those who have watched Coutts in recent years. Mr Flavel joined in 2016 and under his leadership, the iconic private bank has undergone a significant transformation across all the bank’s key performance targets: Return on Equity has grown from 4 percent to over 16 percent and focus on simplification has seen a 20 percent improvement in the cost-to-income ratio.

In 2020 Coutts continued to attract new business and clients and took the decision to reduce its fees despite a challenging operating environment. This makes it one of the most competitively priced wealth managers operating in the high-net worth space.

Coutts also agreed a major platform partnership with BlackRock for the launch of range of exclusive funds.

Mr Flavel is involved with multiple charities. He was born in Australia and has degrees in Law and Economics from the University of Adelaide.

Lisa Francis

Chief executive UK and Crown Dependencies, Barclays Private Bank

Ms Francis joined Barclays in 2012 and took her chief executive role in 2017.

During 2020 this hands-on leader took it upon herself to phone five colleagues a day, giving her a better feel for achievements across the bank, as well as how staff across all levels were coping with lockdown.

She has also upped her media profile significantly in the last two years, speaking to broadsheet newspapers and the financial press on diversity and best practice.

Barclays PB offers more than 70,000 clients with assets of at least £5 million high-quality customer care, as well as a diverse selection of services including wealth advisory and investment advice to philanthropy assistance.

Alexander Hoare

Partner, C Hoare & Co

Mr Hoare is the first of the eleventh generation at C Hoare & Co.

During 2020, the innovative impact investing vehicle (Snowball) which Mr Hoare helped to set up opened to external investors, attracting much press attention.

C Hoare & Co also added to its Cambridge team – the office marks the first time the bank has had a presence outside London in its 348-year history.

Prior to joining his family bank, Mr Hoare 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 a member of the Westminster Abbey Finance and Advisory Council.

Alan Hudson

Chief executive, AFH Financial

Mr Hudson is responsible for the day to day running of AFH, with a particular focus on its acquisition programme.

AFH has become one of the best-known names in wealth management consolidation in recent years, and it now manages more than £6 billion. Amidst the pandemic, the firm took the decision to pause acquisitions for the time being, instead switching focus to cash generation and organic growth. In January 2021, AFH announced its takeover by US private equity firm Bidco as a means of reinvigorating it buyout strategy. Under the terms of the deal, Mr Hudson will take a share in Bidco.

In the group's results for the full year ended 31 October 2020, pre-tax profits stood at £13.2 million. Revenues were up 4 percent from £74.3 million to £77.1 million, while administrative expenses fell 12.6 percent to £19.6 million.

Mr Hudson has considerable financial planning and investment management experience as a chartered financial planner and founded AFH in 1990. Prior to this, he ran the Birmingham office of Target Life.

Jeremy Knowland

Market manager for the UK, Citi Private Bank

With more than 10 years’ service at Citi Private Bank, Mr Knowland has overall responsibility for the bank’s relationships with ultra-high net worth clients in the UK.

During 2020, the UK business experienced strong inflows, with more than 60 percent of UK clients saying Citi Private Bank was their first call when they need guidance – an important statistic as Citi’s very wealthy clients (£25 million-plus) generally have multiple banking relationships.

Around half of Citi PB’s existing clients either took out new discretionary mandates in 2020, or added to existing mandates.

Previously, Mr Knowland was at Barclays Private Bank as head of the onshore investment advisory team. He is a qualified accountant, holds the Chartered Financial Analyst designation, and is an affiliate member of the Chartered Institute for Securities & Investment.

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.

UBP’s income remained resilient throughout 2020, despite the challenging interest rate environment.

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.

James Lawson

Partner, Tribe Impact Capital

Mr Lawson is one of the main brains behind industry disruptor Tribe Impact Capital, where the motto is “a new wealth order”.

Tribe was a PAM Awards finalist in 2020, and its business continued to grow as clients focused more on the meaning of their money. This resulted in Tribe hiring a trio of new wealth managers.

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, 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.

Penny Lovell

Private wealth chief executive, Sanlam

With over 25 years’ experience advising private clients, families and charities, Ms Lovell was previously managing director at Rothschild and Fleming Family and Partners.

During 2020 Sanlam PW launched an enhanced charities business, as well as putting on an array of activities – ranging from exercise to mixology – for staff and clients.

Before joining Sanlam in 2017, Ms Lovell was head of private client, marketing, and distribution at Close Brothers Asset Management.

She is well known in the industry for her excellent communication skills and ability to offer sound and forthright advice on complex matters.

Ms Lovell is a trustee for Prism: The Gift Fund, Pennies and sits on the board of PIMFA and the advisory board at the Park Theatre.

Alexandra Loydon

Private client director, St James’s Place

Ms Loydon oversees St James’s Place’s (SJP’s) higher-net worth client business, which brings together financial planners, investment and pension planning specialists, banking advisers, and experts in tax planning and legal matters.

Ms Loydon, a private client lawyer, is highly experienced in advising upon the structures to hold, protect and pass on wealth. She has particular experience in integrating personal and business succession issues for business owners. She was promoted to her present position in January 2020, having worked for SJP since 2010.

Ms Loydon’s interests within the sector include sustainable investing, philanthropy, and financial literacy, and she acts as a spokesperson for the firm on such issues. She is the senior sponsor for Start, a programme focused on educating young people around big financial decisions.

Ms Loydon is also a member of the STEP, The Society of Trust and Estate Practitioners.


Duncan MacIntyre

Chief executive, Lombard Odier UK

Mr MacIntyre joined Lombard Odier in January 2016 as chief executive of the private client business in the UK. In July 2020, he was appointed global UK region head, overseeing Lombard Odier’s UK private client businesses across London, Geneva, and Zurich.

Mr MacIntyre is a prominent speaker and participant in industry events – and has continued this work virtually throughout 2020. He has overseen stellar growth at Lombard Odier's UK business, with the UK being Lombard Odier's second largest market by client residency.

Mr MacIntyre has 25 years of experience in private wealth management and previously founded and was a global head of Coutts Private Office managing UHNW clients across the world.

He holds a BA in Latin American studies from the University of Essex, as well as a Masters’ degree in Anthropology and Economics from the Universidad Autónoma de Yucatán (Mexico).

Alan Mathewson

Chief executive, Brown Shipley

Mr Mathewson has focused on building out the team with strategic senior hires as a means of changing the commercial dynamic and proactively supporting growth at Brown Shipley.

He has also focused on enhancing the risk framework and culture at Brown Shipley which includes significantly increasing the bench strength with senior hires across the risk function.

He has also looked to unlock further regional opportunities – including with the acquisition of £1 billion AUM Cambridge wealth manager, NW Brown. The business integration progressed smoothly and was completed within six months.

Over the past 18 months, Brown Shipley has invested in new technology platforms with Lombard Odier and Intelliflo. This included the launch of MyBrownShipley, a dedicated app allowing clients to dynamically engage with the bank’s view of their investments.

Mr Mathewson believes in a need to adopt a flexible approach to work in future, blending the benefits of the office with home working. Diversity and inclusion is also a key priority and he is involved in multiple initiatives advancing this.

Prior to Brown Shipley in 2018 Mr Mathewson led Santander’s move into the UK private banking and wealth management market.

Colin McInnes

Managing partner, Quartet Investment Managers

Mr McInnes is one of the founders of the 2020 PAM Award-winning Quartet – an independent multi-asset investment manager based in London. The firm made key hires in 2020.

Mr McInnes is an outspoken and thoughtful critic of the wealth management sector and the ways in which it could improve its offering for clients. He founded Quartet after becoming disillusioned with the model at previous employers.

He has 20 years’ private banking and investment management experience.

He holds the Investment Management Certificate and Chartered Institute of Securities & Investment Diploma. He is a Chartered Fellow of the Chartered Institute for Securities and Investment.

Chris Merry

Chief executive, Stonehage Fleming

Mr Merry became chief executive for Stonehage Fleming in September 2019, a continuation of his successful career across financial services.

Taking charge as the pandemic took hold, Mr Merry has nonetheless made his mark on the business, launching an employee feedback survey to ensure staff (and therefore clients) were properly cared for during the pandemic.

He has redefined the firm’s strategic goal – to become the pre-eminent independent adviser to the world’s leading families and wealth creators. A key step in achieving this goal was to upgrade the firm’s operational and support functions.

In April 2020 Mr Merry announced the acquisition of Cavendish Asset Management, representing £1 billion in AUM. In November he appointed a UK advisory board to bring further intelligence on the economic and political environment and an independent view of the firm’s proposition.

He also launched a diversity and inclusivity survey and appointed a committee who will prioritise this agenda. He joined the #100blackinterns pledge and selected Climate Care as the group’s carbon offset partner.

David Miller

Investment director, Quilter Cheviot

Mr Miller’s every day role is managing clients’ portfolios (AUM more than £500 million) and three authorised OEICS, and contributing to the Quilter Cheviot investment process, through membership of a range of committees including asset allocation and stock selection.

His weekly ‘Diary of a Fund Manager’ is an extremely effective market newsletter that engages with its 15,000 readers in 57 countries. An expert in his field, Mr Miller uses his experience, knowledge, and insightful writing style to make the diary useful to investment professionals, financial planners, and private clients alike.

Mr Miller has now published more than 300 diary entries and counting. The quality and consistency of the communication has received industry recognition with several awards.

Mr Miller appears on the BBC, Sky, CNBC, Bloomberg, and Share Radio. The diary has secured some of the industry’s most sought-after print media coverage, with quotes included in The Wall Street Journal and Dow Jones. It has also been directly quoted in an array of broadsheets.

Peter Moores

UK chief executive, Raymond James

Raymond James is experiencing runaway growth in the UK as more investment managers depart large firms to run their own practices under the Raymond James “umbrella”.

This strategy is all overseen by Mr Moores, now a regular constituent of our ’50 Most’ ranking. In 2020 new sites included Wanstead in East London, Chichester, Buckingham, Watford, Spinningfields Manchester, and Ropemaker Place in the City of London.

Since its 2001 UK launch, Raymond James has grown to employ more than 300 wealth managers, who look after £12.3 billion in client assets. Each branch leaves its entrepreneurs free to set their own investment style, but Raymond James supports with compliance and regulatory oversight, back-office functions, and marketing.

Born in Dublin, Ireland, Mr Moores read Business Studies at Trinity College, Dublin and was conferred with both a BBS (hons) and an MA degree. His earlier career was with JP Morgan Chase and DAB Bank.

Michael Morley

Chief executive for UK and Nordics, Deutsche Bank Wealth Management 

The disruption caused by the Covid-19 pandemic, with virtually all staff working remotely, has not halted the strong momentum seen at Deutsche Bank Wealth Management in 2020.

Since taking up the UK head role in 2017, Mr Morley has overseen a widescale restructuring of the UK platform to leverage Deutsche's strengths in servicing ultra-high net worth clients and family offices.

The pace of change quickened in 2020 with key executive hires. Looking to the professional client segments has seen the creation this year of a dedicated team to provide coverage to single family offices and introduce clients to the full capabilities of Deutsche's investment and corporate banks.

Mr Morley has been at forefront of the bank's proactive stance to mental well-being, providing executive sponsorship of dbEnable – a bank-wide resource to promote inclusivity and support for those with physical disability or mental health issues.

During 2020 he was appointed deputy chair of the Centre for Mental Health and senior independent director of PIMFA.

Guy Monson

Chief investment officer and senior partner, Sarasin & Partners

Mr Monson co-manages Sarasin’s global equity income strategies for institutional and retail clients. He has over 30 years of investment experience and joined Sarasin in 1984, and is a fellow of Lady Margaret Hall, Oxford.

Sarasin & Partners won two PAM Awards in 2020 – for Investment Performance and Client Service Quality (high net worth) – and was a finalist in several other categories.

During 2020 and despite the Covid-19 pandemic, client assets have continued to increase robustly. Total client assets under management, which includes institutional as well as private clients and charities, amounted to £15.5 billion on 9 September.

The firm also joined a high-profile petition for HSBC to step up its climate change commitments.

Mr Monson has pioneered the use of thematic investment in the management of global equity portfolios and today manages the Sarasin Global Opportunities fund as well as leading the firm’s investment strategy.

Mr Monson writes regularly in the international financial press and appears on Bloomberg and other financial channels.

Mark Perchtold

Director, Omba Advisory & Investment

Omba won the 2020 PAM Award for ‘Emerging Manager’ and the boutique is focused on providing superlative client value, through actively managed passives.

The business has been built to be client focussed, non-bureaucratic and technologically astute and employs a small, nimble team who have experience working for larger firms.

Mr Perchtold previously spent just under 12 years at Goldman Sachs most of which was in the investment management division in London where he gained experience in asset allocation, equities, fixed income, alternative investments, and derivatives.

Preceding Goldman Sachs he was a manager at KPMG in the consumer markets audit and assurance division where he spent nearly four years.

He qualified as a Chartered Accountant in South Africa following a Bachelor of Accountancy degree at the University of the Witwatersrand and remains a member of SAICA (which has reciprocity with ICAEW).

Daniel Pinto

Chief executive, Stanhope Capital

The Stanhope founder and chief orchestrated one of the most prominent deals in UK wealth management during 2020: Together, Stanhope and FWM Holidings – which owns Forbes Family Trust, LGL Partners and Optima Fund Management – will oversee $24.2 billion in client assets.

Mr Pinto has said that creating this transatlantic business fills an important gap. While large banks push products, smaller firms cannot get a handle on the needs of more complex clients. The merged Stanhope/FWM business fills this middle ground.

Formerly a senior banker at UBS Warburg in London and Paris concentrating on mergers and acquisitions, he was a member of the firm’s executive committee in France. He was also chief executive of a private equity fund backed by CVC Capital Partners.

Mr Pinto holds an MBA from Harvard Business School, an MA in Economics from Institut d’Etudes Politiques de Paris and an MSc in Finance from Université Paris-Dauphine.

Dean Proctor

Chief executive, 7IM

Mr Proctor became chief executive of 7IM in April 2019. He has 25 years of experience in the financial services sector encompassing leadership roles in businesses in the UK and the Middle East.

In 2020 he arranged the acquisition of Partners Wealth Management, sending 7IM’s AUM past £17 billion. The firm also appointed a new chairman. Mr Proctor has focused on redefining 7IM’s culture.

In 2019 (the most recent year for which accounts are available) profits, revenue, and AUM were all up by approximately 9 percent.

Mr Proctor began his career at Lloyds Bank, joined Citibank as UK Marketing Director then went on to run their credit cards business in the Middle East before returning to the UK. From 2009, he spent three years as chief executive of Arbuthnot Latham Private Bank then moved to Qatar with the Commercial Bank of Qatar.

He returned to the UK in 2016 where he joined Barclays Bank, then 7IM.

Charlotte Ransom

Chief executive, Netwealth

Despite the challenging environment, Netwealth went from strength to strength in 2020.

Ms Ransom successfully funded the platform, with a further £5 million secured during the year. The business had high client retention rates and year-on-year growth of 35 percent, as well as launching a new client app. Netwealth’s seven risk portfolios performed well and fully in-line with their profiles.

Ms Ransom continued to have a strong media presence in 2020, providing the sector with thought leadership on issues including diversity, fee transparency, and technology. About half of Netwealth’s clients are women – double the industry average.

Ms Ransom launched Netwealth in May 2016. Having started her career at JPMorgan, she spent 20 years at Goldman Sachs, serving as a partner for 10 years. From 2012, she explored the impact of digital technologies on a variety of industries.

Ms Ransom is vice president of Save the Children and a recipient of the 2015 Mary Lou Carrington Award for her work with Speakers for Schools, an organisation focused on providing young people access to top opportunities. She is an active donor and supporter of overseas educational projects.

Mark Rayward

Chief executive, Veritas Investment Management

In-house stewardship, sustainability as standard, and 'trends not cycles' are some of the characteristics which underpin the ongoing success of Veritas, which in 2020 won the PAM Award for ‘Investment Performance – Growth Portfolios’.

With over three decades of investment experience, Mr Rayward joined Veritas Investment Management in 2010, where he develops and manages the firm’s long-term strategy and oversees all operations and business activities.

Mr Rayward has a firm belief in the importance of keeping things simple, ensuring that the business is focused on achieving excellence for clients.

Mr Rayward was previously deputy chief executive and head of UK private clients & charities at Newton Investment Management, having joined that firm in 1986.


Mark Robertson

Chief executive, Hottinger

Mr Robertson leads family office Hottinger, where his areas of focus include fee transparency and maintaining links with the world’s top private banks, their investment committees, and their best-performing investment managers.

Mark joined the firm, which has roots dating back to the 1700s, in 2013 as chief executive.

Hottinger is principally owned by the families it serves. Services include wealth management, art consultancy, business consultancy and cash management.

Mr Robertson’s career in finance began in 1995 as a loans officer with Bank of Scotland followed by a move to Hambros Group in 1997. In 1999 he accepted a role with HSBC, firstly as a financial planning manager in their commercial banking unit and subsequently as a private banker.

After five years with HSBC, Mr Robertson joined Coutts as a private banker in 2004. Over the next seven years with Coutts, he performed several roles for the bank including a three-year secondment to Switzerland with Coutts Bank von Ernst (Suisse) as senior vice president. In 2011 he accepted the role of first vice president with Edmond de Rothschild (Suisse).

Khaled Said

Managing partner, Capital Generation Partners

Mr Said is one of the founders of Capital Generation Partners, which won the 2020 PAM Award for ‘client service quality – ultra high net worth’.

The firm manages this service excellence while maintaining strong profit margins. In 2020 it made several key hires and brought three of its longer-term employees into the partnership.

Mr Said is known in the industry for his principled, commercial approach. He now manages the client relationships and business development functions at Capital Generation Partners, as well as sitting on the asset allocation, investment, and risk committees.

He began his career in 1998 as a strategy consultant at Bain and Company, with a focus on Private Equity. He holds degrees from INSEAD, Harvard and Oxford.

Ben Snee

Chief executive, LGT Vestra

2020 was a momentous year for LGT Vestra, as it was fully acquired by its Liechtenstein-based parent.

Mr Snee is a founding partner and chief executive of the firm. He joined from UBS where he was an executive director and client adviser. The firm posted a significant increase in revenue and profits in its most recent financial year. It also promoted another six to partner during 2020.

Before UBS, Mr Snee worked at boutique advisory business Scott Goodman Harris, having joined from the private client department of PricewaterhouseCoopers. He holds a BA in Management and Business from Reading University.

LGT has been privately owned by the Princely Family of Liechtenstein for over 80 years and therefore has efficient management and organisational structures.

Chris Stead

Head of portfolio management, Melville Douglas

Melville Douglas is another boutique punching above its weight in terms of investment performance.

Overseeing this stellar performance from Jersey is Mr Stead, who has worked in the investment industry in senior roles for over 30 years. As such he has in-depth experience in understanding clients’ objectives and delivering tailored solutions.

Mr Stead focuses on original fundamental research. He invests only when there is an appropriate safety margin, which helps portfolios weather downturns.

Melville Douglas is part of Standard Bank which Mr Stead joined in 1990.

The boutique was a finalist in three PAM Awards categories in 2020: Defensive, Growth, and High-Growth Investment Performance.

Andy Steel

Founding partner, James Hambros & Partners

Mr Steel was a founding member of the team at James Hambro & Partners (JH&P) and was instrumental in establishing the company in 2009.

2020 was a busy year for the £3.4 billion AUM firm: It embarked on a major cloud transformation in March, reinforced its charities team, while staff raised significant sums for various causes, which the firm matched.

JH&P won the 2020 PAM Award for high net worth ‘total wealth planning’ while also being shortlisted in two investment categories.

Mr Steel has held a range of roles at JH&P, including serving as finance director and chief operating officer. Before this, Mr Steel worked at Sun Life and the original JO Hambro Group.

He is a fellow of the Chartered Association of Certified Accountants as well as a charity trustee for Young Kent and serves on the campaign board of Blind Children UK.

Paul Stockton

Chief executive, Rathbones

Mr Stockton took up the chief executive role in May 2019. He has worked as group finance director for Rathbones since August 2008 and was appointed managing director of the investment management business in May 2018.

On taking the top job, Mr Stockton made the bold decision to state he planned to marginally reduce Rathbones’ impressive profit margin over the next few years, as he believed the business required more investment. This will include the launch of a formal graduate programme to attract and create future talent.

In the first half of 2020 the firm grew its discretionary mandates, income and profits were resilient, while it maintained an operating margin of more than 25 percent.

The group also recruited Clive Bannister, the former chief executive of HSBC Private Bank, as its chairman in late 2020.


Richard Thomas MBE

Chief executive, EFG Private Bank

Mr Thomas joined EFG from Barclays UK in January 2019, where he was most recently chief operating officer. He had worked for Barclays since 2008.

During the pandemic Mr Thomas has been able to navigate the fine balance of focusing on and protecting his colleagues’ mental and physical health, whilst also overseeing a business that has continued to grow and provide an excellent client experience.

The delivery of new digital technologies to connect clients and colleagues has been matched by a number of new wellbeing initiatives.

Mr Thomas’s nominator describes him as “sincere, decisive, approachable, empathetic and direct” and “a genuine leader who cares genuinely about his people, our business and our clients”.

Mr Thomas holds an MA in defence strategy from Kings College London and an MSc in Business Leadership and Strategy from London Business School. Before starting his career in banking, he worked for the Ministry of Defence.

Nick Tucker

Chief executive, Waverton Investment Management

Mr Tucker joined Waverton in February 2020 as chief executive having spent nearly 30 years building wealth management businesses in the UK and overseas.

Since joining Waverton, Mr Tucker has helped lead an adaption in the way Waverton staff operate, and the business continues to perform strongly for both clients and intermediaries. It also made a series of hires throughout 2020.

Investment in a new technology has meant that Waverton’s transition to remote working was seamless. And this is already creating new opportunities, not least deepening and broadening the relationship with existing clients.

Prior to Waverton, Mr Tucker was managing director and Head of UBS’s domestic wealth business in the UK. For the first 20 years of his career, he was with Merrill Lynch, latterly as head of private clients UK and Ireland.

He graduated from Exeter University with a degree in Political Studies.    

Clemmie Vaughan

Chief executive, Ruffer

Ms Vaughan joined Ruffer in 2005, where she managed investment portfolios for individuals, trusts, charities, and pension funds. Rising through the ranks, she was appointed chief executive in April 2017.

In 2020 Ruffer remained very profitable, both in absolute terms and relative to its peers in the UK institutional and private client sectors. Its operating margin is close to 60 percent.

In addition to her work at the investment manager, Ms Vaughan is a governor of St Mary’s Ascot, a boarding school for girls. She completed the Advanced Management Program at IESE in Barcelona in 2017 and holds an honours degree in economics and geography from Exeter University.

Phillip Wale

Chief executive, WH Ireland

Mr Wale is one of the driving forces behind the turnaround of WH Ireland, which returned to profit in the first half of 2020 after several years of turmoil.

In the prior year, the firm had decommissioned two costly legacy platforms, overhauled its remuneration structure, and undertook a repricing exercise, all of which is expected to benefit the firm in the future.

It also completed the acquisition of Harpsden Wealth Management in December 2020, an independent financial advisory and wealth manager with around £250 million assets under management (AUM).

Mr Wale began his career in UK Gilt Edged & convertible bonds, spending ten years at Goldman Sachs in New York and then London, as co-head of pan-European equities.

He managed the equity businesses at Commerzbank and then at Knight Securities, where he was appointed European chief executive, before moving into fund management. Prior to joining WH Ireland in August 2018, Phillip was head of fixed income (Europe) at Cantor Fitzgerald Europe.

Helen Watson

Chief executive, Rothschild & Co Wealth Management UK

A regular constituent of our ’50 Most’ ranking, Ms Watson joined Rothschild & Co in 2010 and became chief executive of the UK Wealth Management business in 2015. Since 2018, she has also been co-head of the global wealth management division and a member of Rothschild & Co’s executive board.

In 2020 Ms Watson oversaw the successful transition to a remote working model, resulting in strong inflows. She also helped recruit one of the UK’s most experienced private bankers, Warwick Newbury, onto Rothschilds’ UK wealth board.

Her focused strategy has achieved a doubling of wealth management assets in the UK to more than £10 billion today.

Ms Watson is passionate about building a diverse team to better reflect and identify with a changing client base. Initiatives include a successful apprenticeship programme for school leavers, as well as established women’s and LGBT networks.

Ms Watson previously worked for Morgan Stanley for more than 20 years – she joined as a sales assistant without a university degree, and thus has an interest in recruiting talents who do not come from the “traditional” City background of private schools and elite universities.


Gary Wilder

Group chief executive, Kingswood

Since becoming group chief executive of Kingswood in January 2019, Mr Wilder has set the business on an ambitious growth plan to become one of the leading wealth management businesses with a footprint in both the UK and the US.

In 2020, a number of UK financial advisory firms have been acquired, with two substantial acquisitions completed during this year's lockdown. Through the completion of these five acquisitions, AUMA has doubled to £5 billion, as have staff and client numbers.

With a pipeline of further deals, Kingswood projects this figure will continue to grow rapidly in the next few years. A similar strategy is underway in the US.

Kingswood launched a SPAC in the US this year which will provide the capital for acquisitions in that market.

Significant investment has been made in the business and staff over that period, with an institutional-quality leadership team now in place, recruited from the likes of Kleinwort Hambros, Close Brothers and Charles Stanley to drive the integration of the business and client outcomes.


Chris Woodhouse

Chief executive, Tilney Smith & Williamson

In 2020 Mr Woodhouse became the chief executive of the combined business Tilney Smith & Williamson, as two UK wealth firms merge to create a £45 billion AUM giant – one of the largest wealth managers in the UK.

Mr Woodhouse was instrumental in facilitating Tilney’s £625 million purchase of S&W in September 2019.

Mr Woodhouse joined private equity-backed Tilney in 2017. He joined from the UK motoring and financial services group RAC, where he was chief executive for five years. He previously held senior management roles at several well-known UK brands including Debenhams and Homebase.

He is a fellow of the Institute of Chartered Accountants and an associate of the Association of Corporate Treasurers.

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