Financial Services Compensation Scheme
The UK’s Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have named Marshall Bailey as chair of the Financial Services Compensation Scheme (FSCS) with effect from 1 April 2018.
He succeeds Lawrence Churchill who is stepping down after two terms as chair.
Bailey has worked in financial services for over two decades and has held senior positions in a number of firms. He has worked on issues around financial reform and conduct, most recently on the Board of UK Financial Investments (UKFI).
UBS Group hired a former Morgan Stanley chief executive to run its ultra-high net worth business in Saudi Arabia, as the bank works to combine its wealth management operations, according to media reports.
Gabriel Aractingi will be based in Geneva and joins from Bahrain’s Investcorp Bank, where he had been head of its Saudi Arabia business since May 2017.
Aractingi joined Investec from Morgan Stanley in August 2016, after six years with the US firm, latterly as chief executive of Saudi Arabia.
Julius Baer International
The UK-based subsidiary of Julius Baer Group has made five hires as part of its regional expansion strategy to support growth in the Scottish market.
An Edinburgh office will open in 2Q18 and be headed by Gordon Scott, who was recently announced as team head, responsible for Scotland, Northern Ireland and the north-west of England.
The latest hires all join from Barclays Wealth and Investment Management:
Ross Clephane spent 10 years as a private banker at Barclays and has experience advising a diverse group of clients specialising in investment management, wealth structuring and credit related advice.
Paul Turnbull is a chartered financial planner with over 17 years’ experience advising private clients specialising in retirement, succession and tax planning.
Alan Colquhoun spent six years at Barclays looking after a range of private clients including entrepreneurs, executives and professionals. Prior to that, he spent four years with Coutts & Co in London, as part of the international client group.
James Osborne is an experienced private banker who was previously a director at Barclays. Osborne has particular expertise in tax planning and interests include agriculture, estates and asset management.
Stuart Paterson is a director with a wealth of experience gained from advising clients throughout 16 years at Barclays. He will specialise in serving entrepreneurs, high net worth individuals, families, trusts and companies.
The London-headquartered private wealth partnership has announced three appointments as it launches a New York office and brings its presence to eight locations across Europe, Asia and the Americas.
The team joined LJ Partnership from HighTower Advisors, prior to which they worked together at Guggenheim Investment Advisors. It specialises in investment advisory and management of alternative assets for high net worth families, family offices and foundations.
The team is headed by Christopher Shin, former head of US portfolio management at Guggenheim. Shin has also held senior roles at Goldman Sachs and Bear Stearns and has become a partner of LJ Partnership.
Other team members include Jeffrey Fulk – who brings with him over 10 years’ experience of financial markets – and Katharine Drake. They join as managing director and client service manager, respectively.
Fulk was a managing director at HighTower Advisors and a member of the US portfolio management team at Guggenheim. Drake has previously worked as part of the private wealth groups at both Raymond James and Bank of America Merrill Lynch.
Corporate, private client and funds business Hawksford has appointed a private client and corporate business development director to its Singapore office.
Irene Lee, who has over 15 years’ financial services industry experience, will be responsible for building the company’s relationships with intermediaries and partners serving high net worth individuals and corporate clients in the Asian marketplace.
As part of the newly created role, Lee will help to increase brand awareness for Hawksford’s wide range of services within the Asia Pacific region. She joins from Equiom Singapore, where she was head of business development.
Romain Boscher has been appointed global chief investment officer, equities. He has over 25 years’ experience in the industry and joins from Amundi Asset Management where he has been head of equities for the last seven years.
Prior to this he spent 11 years at Groupama in a range of senior investment roles culminating as deputy chief executive and chief investment officer.
Boscher will report to Bart Grenier, global head of asset management. He joins on 30 April and will be based in London.
He replaces Dominic Rossi who announced last year that he would be stepping down in early 2018 to focus on public policy within the business.