Noland Carter, Heartwood’s chief investment officer, has decided to leave the firm after a 12-year stint at Handelsbanken’s UK wealth management arm.

He is replaced by Graham Bishop, Heartwood’s head of strategy.

Mr Carter, who is leaving the firm to pursue new challenges, has also vacated his seat on Heartwood’s board of directors.

He is replaced here by Peter McCree, Heartwood’s chief operating officer, according to a filing at Companies House.

Mr Carter joined Heartwood in May 2008 and oversaw the launch and growth of Heartwood’s family of multi-asset funds which currently underpin its...