The regulator has put out a statement in which it says:

“Investec Bank (Channel Islands) Limited is a wholly owned subsidiary of Investec Bank plc and is regulated by the Guernsey Financial Services Commission.  It has been noted that criminals have been using the company’s details in an attempt to commit fraud.  The fraud scheme has included posting adverts on social media sites offering fraudulent and misleading offers not connected to the genuine bank. We have been advised that the adverts have now been removed.”

“Anyone who has sought to conduct business with Investec Bank (Channel Islands) Limited through links on social media is encouraged to take steps to ensure that they are dealing with the genuine firm.”

Investec has been operating in the Channel Islands since 1998.

The Guernsey-domiciled fund is a quantitative strategy designed to “identify and exploit major price trends in global markets”.

It is 100% rules-based, non-discretionary and will take long and short positions in a diversified portfolio covering stockmarkets, interest rates, foreign exchange, metals, energy, grain, soft commodities and livestock.

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“Beating the market with a system entirely based on mathematics is one of the greatest challenges,” said Gareth Abbot, co-head of Bowmoor’s investment team. “There are always fundamental forces, behavioural biases, human nature and government policy driving markets.

“Our approach is to capture the overall structure of trends, which adapt and change, and to avoid ‘noise’. I’m not obsessed with every trend. I’m obsessed with sustained and secure macro trends. Our system feels the same way – our primary trend, lasting at least a year, is the cornerstone and most important one, following macroeconomic and economic cycles.”

‘Competitive edge’

Bowmoor chief executive Richard Liddle, added: “Our focus on scientific and systematic processes, as well as our commitment to following the data, gives us a strong competitive edge. We do not attempt to predict the direction of the market or make investment decisions based on emotions, politics, broker opinions or the media.

“Rather, through our 100% rules-based quantitative systems, we seek to identify, react to and profit from market trends as they unfold. The proof of our strategy is in the track record.

“We have aspirations to grow Global Alpha to over £1bn in assets under management and have been working hard over the past year to put together an offering that we think is compelling and right for both our strategy and our investors.”

Campbell Fleming, chief executive of the wealth and asset consolidator, will step down at the end of June, the firm has announced.

Fleming departs for personal reasons, having overseen the formation of the company, including numerous acquisitions, during his 20 months in the role.

In an announcement on the London Stock Exchange, the company said it does not plan to replace Fleming directly; instead, chairman Martin Gilbert and Gary Marshall, chief finance and operations officer, will assume his principal responsibilities.

Gilbert will be responsible for the overall strategic direction of the group, as executive chairman, while Marshall oversees day-to-day operations.

AssetCo confirmed that Alex Hoctor-Duncan, who leads the River and Mercantile brand, is already taking on additional responsibilities.

Bravura Solutions

Libby Roy will step down as chief executive and managing director effective immediately and will remain with the company until 30 June 2023 for handover and transition purposes.

The board has commenced a global search for a chief executive to lead Bravura.

Andrew Russell will become interim chief executive. Russell is currently an independent non-executive director.

SS&C Hubwise

Andre van der Westhuizen has been named as chief information office of wealth at the multi-asset investment platform, according to his Linkedin profile.

He joins from Quilter, where he was head of technology.

M&G Wealth

The business has confirmed that David Montgomery will stand down from his role as managing director.

He will leave at the beginning of August.

M&G Wealth did not confirm if it was looking to replace him.

Lighthouse Canton

The wealth manager has named Rohit Johri as executive director and will be based in the firm’s Dubai International Financial Centre (DIFC) operation.

Johri was previously a director and senior banker at BNP Paribas.

Evelyn Partners

The wealth management and professional services group has named Craig Dowsett as a financial planning director in the firm’s London office.

He joins Evelyn Partners from Vintage Wealth Management, where he spent more than seven years working as an IFA.

Guernsey Finance

Kevin Boscher, who is chief investment officer at Ravenscroft, has taken on the role of deputy chairman.

He joins Paul Sykes, Kate Storey, deputy Steve Falla, Guernsey Finance chief executive Rupert Pleasant and current chairman deputy Lyndon Trott.

Franklin Templeton

The asset manager has named Jacob Rowe as business development director for its UK wholesale distribution team.

Rowe has about 10 years of industry experience, having joined from Russell Investments, where he spent the last seven years in an intermediary distribution role.

Charles Russell Speechlys

The law firm has named Vanessa Duff as a partner within its family team.

She joins the Hong Kong office from Withers Hong Kong.

GBST

The global wealth tech firm has appointed Ross Hamilton to the newly created role of head of cloud infrastructure for retail wealth.

Previously, Hamilton was head of infrastructure at Bravura.

Atomos

The advice-led wealth manager has named Max Newman as direct equity specialist.

He will work alongside Haig Bathgate, with responsibility for the firm’s direct equity proposition.

Newman was previously a director and portfolio manager at Julius Baer.

The deal is subject to regulatory approval.

Carey is a boutique fund, corporate and private wealth services provider. The operation will complement and enhance Suntera’s current Guernsey offering.

With a team of 80 specialists, Carey currently provides a range of professional, administrative and accounting services to a portfolio of fund managers, large institutions, ultra-high net worth individuals and family offices around the globe.

The acquisition comes a year after Suntera Global bought Channel Islands-based Nedgroup Trust for an undisclosed sum.

David Hudson, group chief executive of Suntera Global, said: “The addition of Carey, a high-quality business with an impressive, closely aligned team and a strong track record across all three divisions, to our strategically important and fast-growing Guernsey business is a great milestone.

“This acquisition forms part of our ongoing strategy of continuously developing our offering and capability to further enhance the services offered to our clients in each of our tier one jurisdictions.”

Suntera Global is a multi-jurisdictional provider of corporate, fund and private wealth services. It has over 475 specialists supporting a global client base from offices in the Bahamas, the Cayman Islands, Hong Kong, the Isle of Man, Jersey, Guernsey, Luxembourg, Malta, and the US.

This came during the firm’s financial results for 2022, where it reported a 13% increase in gross revenue to £37.4m ($47m, €43m) for the year ending December 2022. Its insurance and wealth business grew by a combined 19%.

Mark Harris, group chief executive of SPF Private Clients, said: “This year, we plan to open offices in Edinburgh and Bristol to complement our existing office base, as well as in Hong Kong, Singapore and Dubai, enabling us to grow our international market share.”

SPF Private Clients offers mortgage, insurance, real estate and wealth management services from its offices in London, Cambridge, Manchester, Oxford and Guernsey.

Its wealth management arm offers retirement, investment planning, inheritance tax planning, and life and health insurance services.