St. James’s Place
David Lamb, managing director of Investments, has informed the St James’s Place (SJP) board of his intention to retire in early 2019.
Lamb joined the company in February 1992, a few weeks after SJP opened for business, and was appointed to the board in 2007.
On retirement Lamb will have completed 27 years of service with the company, and 12 as a main board director.
Despite retiring, Lamb has agreed to continue on a part time basis as chair of SJP’s investment committee.
Robert Gardner will be joining SJP in January 2019 and will take over from Lamb on the executive committee.
Gardner, 39, is co-founder of Redington, one of the UK’s most respected investment and pensions consultancy businesses.
Tilney
Financial planning group Tilney has hired Chris McLeod and Ammar Saleem as financial planners. They will join the team in the company’s office in Edinburgh.
McLeod has amassed almost 20 years of experience in the financial services industry, joining from Ludlow Wealth Management where he was a senior consultant, advising clients and providing a holistic service to them.
He has previously worked at Standard Life and F&C Investments in various sales consultant roles.
Ammar joins from Cornerstone Asset Management where he spent three years in various positions, most recently private client advisor.
There he developed and built relationships with high net worth individuals, as well as being a member of the investment committee.
In Tilney’s Edinburgh team, both Saleem and McLeod will deliver advice as part of the firm’s “two expert” approach which sees financial planners paired alongside the firm’s investment managers to provide a high quality integrated wealth management service to clients.
Nucleus
Nucleus, the adviser-built wrap, has hired financial services marketing expert Ann Flynn as head of platform marketing.
In this role, Flynn will be responsible for leading the planning, implementation and measurement of all platform, product and brand related marketing and communication.
Flynn joins Nucleus from Legal & General Investment Management, where she was most recently head of financial wellbeing for the DC pensions business.
She has more than 20 years’ experience in financial services and has previously led the corporate marketing teams at Standard Life and Scottish Widows where she was instrumental in the design and launch of the corporate platform.
Flynn will report into communications director Garry McLuckie.
Professional Investment Advisory Services
Christopher Teo, who was chief executive of Singapore-based Professional Investment Advisory Services (PIAS), a member of the Aviva Group, has resigned from the company.
According to Teo’s LinkedIn profile, he resigned from the advisory firm in June 2018.
He is now senior vice president, business development, for a Singapore-based insurance and services provider called Income.
According to Income’s website, it was founded in 1970 and provides life, health and general insurance products and solutions to more than two million people in Singapore.
Lionel King has replaced Teo and, according to his LinkedIn profile, has been chief executive of PIAS for two months.
King was previously was executive vice president and chief risk officer at Prudential Assurance Company Singapore from April 2012 to October 2017.
Prior to this King was a risk specialist in the Financial Conduct Authority’s (FCA) risk specialist division.
Janus Henderson
Janus Henderson has announced Andrew Formica will receive $12m severance pay as the group decides to ditch the co-chief executive leadership structure a year after the UK and US asset managers merged.
Formica’s exit as both co-chief executive and from the board is effective immediately. Dick Weil has become sole chief executive, the group revealed in its Q2 results.
The board said Formica and Weil were both highly qualified, but they considered US-based Weil the most appropriate candidate to take Janus Henderson “to the next level”. Janus Henderson chairman Richard Gillingwater said Weil has successfully led companies through challenge and change.
Global head of distribution Phil Wagstaff will also exit the business.
Formica’s severance pay will be reflected in the third quarter results, the group said. He was due to stay on three years after the merger, but it is rumoured he could now head up Australian insurer AMP.
Fundsmith LLP
Fund management company Fundsmith LLP has appointed Conrad Rey, Greville Ward and Daniel Washburn as partners, subject to FCA approval.
Rey is a sales director at Fundsmith, responsible for relationships with intermediaries; Ward leads interaction with high net worth individuals and international investors; and Washburn is a research analyst, working closely with founder Terry Smith and Fundsmith’s head of research, Julian Robins.
The three new partners, each of whom have a significant co-investment in Fundsmith’s funds, join the firm’s founding Partnership consisting of Terry Smith (chief executive and chief investment officer), Mark Laurence (chief operating officer), Simon Godwin (chief financial officer) and Julian Robins (head of research).
Investec Asset Management
Lerong Kang has been appointed head of advisor, South East Asia, for Investec Asset Management.
Kang will be responsible for managing and driving Investec Asset Management’s advisor business in South East Asia. She will report to Kevin Kong, head of the Singapore office at Investec.
Kang joins Investec from UBS Private Bank in Hong Kong, where for five years she developed strategies and drove sales in Greater China. Prior to UBS, Kang worked as the head of business planning at Eastspring Asset Management Singapore, focusing on fund distribution.
She has also held various senior positions at Citigroup and Standard Chartered in both retail and private banking, both in the US and Singapore.
Link Asset Services
Link Asset Services (Las) has made two appointments in Luxembourg, strengthening the firm’s fund and corporate services expertise in the region.
Raphael Eber joins as deputy managing director and Nathalie Lett has been appointed to the position of head of operations.
Eber joins from Ocorian SA, where he was executive director and authorised manager.
He has a wealth of experience and a strong track record in both building up as well as developing the activities of a regulated fund administrator with a particular focus on alternative investments.
Eber was previously managing director and co-founder of MAS Fund Services, also spending seven years at Experta Luxembourg as vice president business development.
Lett was previously head of operations, also at Ocorian SA. In her new role, she will focus on managing and coordinating the operations of client facing teams.
Thesis Asset Management
Thesis Asset Management has hired Jem Turrell as the office director and investment manager, as part of its plan to build on the growth the business has achieved within the last year.
Turrell, who has more than 25 years’ of wealth management experience, joins Thesis from Standard Life Wealth where he was a senior client portfolio manager for five years. Prior to that Turrell worked in a number of client facing roles, including at Towry, Lloyds Banking Group and Natwest.
A former member of the armed forces, Turrell will assume responsibility for the management of client assets by the investment team at the Guildford office.
