The PAM 50 Most Influential is an annual list of those at the forefront of shaping private client wealth management in the UK and Crown Dependencies.
Today we hear from Martin Andrew, chief executive at Close Brothers Asset Management (CBAM), who joined Close Brothers group in 2005 and took his current role in 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
Martin Andrew
What team or personal achievement over the past year are you most proud of?
The way our team has continued to service our clients throughout the pandemic and also look after each other. You often see the best of people in a crisis and that’s certainly been true in CBAM which has been really special and very humbling.
What piece of advice would you give your younger self?
Find a good team to be part of, put the team first not yourself, and keep working hard. It always pays off in the end.
What do you find most rewarding about your role?
Working with a talented, committed and diverse team on a common cause. I have always enjoyed being part of a team success much more than individual success.
What challenges do you see your firm/clients facing in 2021?
Navigating the impact of key trends – geopolitical developments (Brexit, US/China etc), global fiscal and monetary economic policy development and pandemic strategy & recovery. I also think 2021 will be a seminal year for sustainability.
If you couldn’t work in wealth management/private banking, what other career appeals?
I enjoy business, solving problems and trying to make a difference. I feel I have the dream job for me – if it weren’t in wealth management, I’d be looking to do exactly the same thing in a different sector.
What luxury item would you want with you on a desert island?
A permanently stocked wine fridge.
What’s a valued hobby or interest outside work and how did you get into it?
I enjoy sailing and we try to have a sailing holiday most years. My wife, who is a much better sailor than me, introduced me to it many years ago before we were married – she enjoyed watching me get stranded on a sandbank in the middle of the Menai Strait on my first training course. On our first outing on our own yacht we had to be rescued by the lifeboat.
Despite this rather shaky start I love it. There is something quite special about the sense of freedom, independence and adventure I get from sailing.
What’s a cheesy pop song that you love?
Come on, I admit it, I’m an ABBA fan! Any song will do.
