The strategies, including the BNY Mellon Global Dynamic Bond, BNY Mellon Sustainable Global Dynamic Bond and BNY Mellon Global Dynamic Bond Income fund, were placed under suspension in June 2023. Ella Hoxha, formerly at Pictet, took over as fund manager in December of last year.

Square Mile stated that after meeting with Hoxha and discussing the changes to the portfolios, its team believes “it will take time to fully appreciate the impact of those changes”. In addition, Square Mile found the medium-term returns “not in line with expectations”, resulting in the funds’ removals.

Jupiter Value funds, including the AAA-rated Jupiter UK Special Situations fund and A-rated Jupiter Global Value Equity fund, were suspended after Ben Whitmore and Dermot Murphy announced their departure for July 2024 to create their own investment boutique. While JO Hambro Capital Management’s Alex Savvides will take on the UK equities portion of the funds, there is still discussion over the global equity assets and whether they will transfer with Whitmore, Square Mile said.

See also: RLAM and Artemis funds added to Square Mile academy

Despite the three funds dropped from BNY Mellon, the BNY Mellon Futurelegacy fund range gained a responsible Positive Prospect rating. The group of five funds are managed by Newton Investment Management and launched in February of last year.

“In what is an under-represented area of the market, Square Mile believes this range has all the attributes necessary to provide competitive long-term returns while following the team’s sustainable investment approach,” Square Mile stated.

The Brown Advisory Global Leaders fund was awarded an AA rating, managed by Mick Dillon and Bertie Thomson. The fund, launched in 2015, comprises 30 to 40 holdings which Square Mile claims is “differentiated from its peers and a very solid offering for long-term investors”.

Aikya Global Emerging Markets gained a Responsible A rating while Rathbone Greenbank Multi-Asset portfolios obtained a responsible recommended rating.

Three strategies, the CT UK Social Bond fund, Artemis SmartGARP Global Emerging Markets Equity fund, and WS Montanaro UK Income fund retained their ratings despite changes in management.

In total, Square Mile conducted 52 interviews with 31 asset management groups in the month of January.

This article was written for our sister title Portfolio Adviser

LGT will set up a private banking operation in Hamburg after receiving all relevant approvals.

The office will host a team of 15, headed by Torsten Hein and Jörg Finck who have been tasked with building the business in northern Germany.

While the hub of activity will be in the north, LGT Bank has opted to set up its headquarters in Munich, led by Florian Dürselen, head private banking at LGT Bank. He will work alongside Andreas Loretz, department head for Germany and Austria at LGT Bank, who will be responsible for the operational management of the client business.

The Liechtenstein-headquartered firm is looking to build out LGT Bank in central and southern Germany.

Clients will have access to the full range of LGT products and services including advisory and portfolio management, wealth planning, international real estate financing, impact and alternative investments, and philanthropy advisory services.

Prince Max von und zu Liechtenstein, chairman of LGT, said: “Germany is one of the largest private banking markets in Europe. It is therefore logical for us to be present there. Having locations in Germany will enable us to advise our clients locally. It also means that qualified and committed relationship managers in the German market will have the opportunity to work for a highly successful, leading international private bank. Thanks to our long-standing experience in managing significant assets and our services, especially in the area of private markets, sustainable investments and UHNWI services, our clients in Germany will have access to a unique offering.”

JO Hambro

Active asset manager JO Hambro Capital Management (JOHCM) has opened an office in Munich.

Relocating from the firm’s London office to Munich are TJ Voskamp, head of distribution UK, Europe and Asia; Annabelle Wegner, head of intermediary sales for Germany, Austria and Switzerland; and Dach sales manager Marco Maier.

“The establishment of the German location is an important part of JOHCM’s growth plans in continental Europe,” said Voskamp.

“Germany is one of Europe’s largest and most diverse asset management markets and represents a very exciting prospect for us. With a stronger local presence, we want to offer our clients an even better service in the future and grow our brand in the Dach market.”

The Luxembourg-headquartered group has hired Chris Allen as group chief executive, effective from 1 July 2022.

Allen was previously head of global private banking at HSBC.

He will replace Jakob Stott, who has decided to step down and will leave the firm following a brief transition.

Vam Funds

The investment manager has hired Brendan Dolan as sales director, according to the firm’s Linkedin page.

Dolan was previously at Quilter International, where he was global sales director.

Fairstone

The UK financial planning group has hired Peter Donaldson and Tean Hatt as group divisional directors.

Donaldson has spent the last 17 years at HSBC in retail and commercial financial planning positions and leading roles in wealth strategic transformation. He takes up the role of group divisional director of north and Scotland.

Hatt has over 25 years’ industry experience in financial services, which includes 15 years at Hargreaves Lansdown. He will be group divisional director for Midlands and east.

Carrick Wealth

The South African advice firm has hired appointed Twape Mtila as regional manager of its Malawi office.

He was recently business development officer at Old Mutual Investment Group Malawi.

IQ-EQ

The financial services provider has named Briony Sun as Chinese family office executive, based in Jersey.

She will support Chinese-speaking private clients living in or planning to relocate to the UK, particularly London, and those looking to establish a Jersey trust.

Navigation Wealth Management

The Yorkshire-based financial advice firm has appointed Paul Scott as client relationship manager.

Scott was mostly recently part of the premier relationship team at Barclays Bank.

First Sentier Investors (FSI)

The global investment manager has named Ray Cullivan as head of FSI Ireland.

Cullivan replaces Adrian Hilderly, who is retiring later this month.

He joins from Gam, where he was most recently head of Gam in Ireland.

Endowus

The Singapore digital wealth manager has appointed Sean Wong as its head of investments, and Min Axthelm as its director of research.

Wong joins from Morgan Stanley Private Wealth Management Asia.

Axthelm joins from Morgan Stanley in New York, where she was lead analyst with its wealth management global investment office, overseeing the due diligence process from inception to completion for US equity strategies and mutual funds.

J O Hambro Capital Management (JOHCM)

The active asset manager has named Nikolaos Dimakis as a senior data scientist.

He joins from Federated Hermes, where he was a quantitative analyst.

The UK investment firm has promoted Colleen McHugh to interim chief investment officer, succeeding David Semmens, who is leaving the business.

She will work alongside Kyle Cox who takes on the role of deputy chief investment officer.

McHugh is the managing director of Guernsey-based 1818 Venture Capital and has been on Wealthify’s investment committee since 2019.

IQ-EQ

Matt Haynes has been promoted to global head of business intermediaries and partners at the financial services provider.

He spent the last eight years as group business development director at the firm.

Interactive Investor

The UK investment platform has hired Saj Arshad as chief commercial officer.

He was previously at Santander where he worked as chief customer and innovation officer since 2020.

Invesco

Oliver Bilal has become head of Emea distribution at the global investment manager.

He joins from Natixis Investment Managers where he worked as head of international sales and marketing.

JO Hambro

The asset manager has recruited Frederic Lejeune as managing director of its newly established Paris office and country head of Frabelux.

He will be responsible for sales in France, Belgium and Luxembourg.

Most recently, Lejeune was president and managing director for Robeco France.

Nucoro

Steve Hoy has taken on the role of head of partnerships at the wealthtech platform.

He used to hold a similar role at Swedish fintech firm Minna Technologies.

Trium Capital

The alternative asset management business has hired Rosie Duffell as managing director of sales and investor relations.

She spent the last 13 years at Goldman Sachs Asset Management, where she was responsible for the Emea client business.

Redwheel

The independent investment firm – formerly known as RWC Partners – has recruited Stephanie Kelly as head of thematic sustainability research, a newly created role.

She was previously deputy head of Abrdn Research Institute, where she was responsible for the integration and application of ESG research across the business.

Avellemy

Head of collectives Alena Kosava has left the discretionary manager, a year after joining.

It is not clear where she will move to next.

Her departure follows the sale Avellemy’s parent company, Ascot Lloyd, to European private equity investor Nordic Capital.

Lowes Financial Management

The UK advice firm has promoted Andy Gardiner to associate director, a newly created role.

He has been at firm as a financial adviser since 2005.

The digital financial advice firm has made some changes to its management team.

Mark Kiddell will become chief commercial officer, while Ben Hampton will take on the role of chief product officer.

Kiddell was previously at Mercer, where he worked as growth enablement and operations leader for over three years.

Hampton joins from Abrdn, where he launched and ran the company’s digital retirement advice arm.

Sanlam UK

Group chief executive Jonathan Polin will leave Sanlam UK.

He will take on the position of chief executive at a different company created from the wealth management arm of Sanlam UK, which was sold to Oaktree Capital Management in September 2021.

Polin will be joined by Haig Bathgate as head of investments, who will join from 7IM after the deal completes in April.

Nicola Fraser remains chief financial officer, with Niral Parekh joining as chief operating officer and Christopher Kraft coming-in as chief commercial officer.

Parekh was previously head of retail asset and wealth management at Capco and head of product proposition and director of corporate strategy at Tilney Group.

Kraft was chief operating officer at True Potential, having spent almost a decade at Perella Weinberg Partners.

Their roles will also officially start in early April once change in control has been confirmed by the regulator. They will be supported by a senior management team with specialisms across the different business areas.

JO Hambro

The asset manager has hired Ben Morris as head of product EUKA.

He joins from Abrdn where he most recently served as head of equities, product strategy and specialists.

Saltus

The UK firm has named Alex Spreckley as managing director of financial planning, as the company looks to develop its financial advice proposition.

He was previously head of wealth management at Handelsbanken Wealth and Asset Management.

LGL Group

The fund and family office solution provider has made a series of leadership changes.

Zena Couppey has been promoted to chief executive after joining the business in 2020 as chief commercial officer.

Mike Newton has also been promoted, taking on the role of chief operating officer. He joined in 2021.

Lastly, Stephen McKenna will succeed Couppey as chief commercial officer, based in Luxembourg.

McKenna was previously group head of alternative assets and ESG.

Praxis IFM

The global financial services firm has made two senior hires.

Alexandra McInnes becomes group chief operating and risk officer and James Barber-Lomax as head of pensions.

McInnes was most recently a director at PwC’s advisory business in Guernsey, while Barber-Lomax has been at Praxis IFM for eight years.

Natixis Investment Managers

Mabrouk Chetouane has taken on the role of head of global market strategy and solutions, international at the investment firm and will be based in Paris.

He joins from BFT Investment Managers, where he was head of research and strategy.

The Advisers Association

The Australian trade body has appointed Bill Belmers as chair of the association.

He has been a board member since 2019 and vice chair since 2020.

Belmers is still a practising adviser with 23 years’ experience and is the funder and managing director of Queensland-based SEQ Advice.

Raymond James

Benjamin Smith has become a financial planner at the wealth manager’s Exeter branch.

He was previously at Mercer UK, where he held a similar role.