Guernsey Finance has appointed its first Hong Kong representative, while Brooks Macdonald has poached an investment manager from HSBC GAM. The acquisition of C Hoare & Co’s wealth management division will see two high profile people step down.
Five UK discretionary fund management (DFM) firms have formed the DFM Alliance, a partnership offering financial advisers a platform to improve client outcomes through information, education and collaboration.
Brooks Macdonald, the specialist discretionary fund management provider, has announced its first international strategic alliance, signing a deal with Dubai-based advisers Abacus Financial Consultants.
Novia Global has broadened its integrated investment portal through strategic partnerships with DFMs Brooks Macdonald, LGT Vestra, and Bordier & Cie, while Transact now offers advisers access to Quilter Cheviot’s managed portfolio service (MPS).
Brooks Macdonald’s co-founder is to step down as chief executive after 25 years, with his replacement coming from HSBC. Principal Global Investors has named a new head of funds distribution for Asia, while Vanguard has also shuffled its Asian operations, with a focus on China.
Brooks MacDonald overcame “significant headwinds” to achieve higher funds under management and profits for the year ending 30 June 2016.
The UK Treasury is on the hunt for a director general to help navigate the post-Brexit landscape, Axa Investment Managers has added to its UK equities desk, while Brooks Macdonald has strengthened its Channel Islands team.
Brooks Macdonald has been developing its proposition for international advisers for the past three years. Richard Hughes discusses how its consultative approach has led to the development of significant adviser partnerships across key jurisdictions.
Aviva Investors has bolstered its global equities team, with Brooks Macdonald luring its new investment director from Quilter Cheviot. Old Mutual Wealth has made two significant UK regional appointments, while Deutsche Bank’s Americas chief executive has announced his departure.
Brooks Macdonald Group reported its assets under management rose 2.37% during the first quarter of 2016 to hit £8,007m.
Brooks Macdonald has reported discretionary funds under management of £7.82bn ($11.3bn, €10bn) at the end of 2015, up 12% from £6.95bn at the end of 2014.
Private equity firm Origo Partners is considering its options after Brooks Macdonald Asset Management filed a claim with the Isle of Man High Court seeking an order to wind up the closed-end investment company.
