The bank has announced that chief executive Peter Flavel will step down with immediate effect, following his role in the handling of Nigel Farage’s case.

Mohammad Kamal Syed will step into the role as interim chief executive of Coutts and the wealth businesses, subject to approvals.

Strabens Hall

The wealth manager has promoted Alex Stephens to chief operating officer.

Stephens has been with Strabens Hall for 9 months and was previously head of operations.

Prior to that he worked at the Chartered Institute for Securities & Investment.

Natixis Investment Managers

The investment manager has promoted Patrick Sobotta to regional head of Germany, Austria and Central and Eastern Europe and executive managing director.

He will be responsible for the retail, wholesale and institutional activities within those regions. Sobotta will report to Fabrice Chemouny, executive vice president and head of international sales.

Elsewhere, Erik Crawford will join as senior sales director in August.

The firm has also promoted Constance Clerc as head of business enhancement based in Paris.

Clerc joined Natixis in 2016 and was previously head of strategy and sales management for international distribution.

The Exit Partnership

The wealth manager has hired Dave Robinson as head of internal exits.

He will spearhead guidance and advice to retiring IFAs considering a management buy out (MBO) or employee ownership trust (EOT).

BlackRock

The investment manager has appointed Mandy Lui as head of greater China wealth and Dennis Quah as head of Singapore wealth.

Lui will join in mid-August in Hong Kong and will focus on developing relationships with distributors in the greater China refioin.

She joins from Baring Asset Management where she was head of wealth and retail distribution for greater China and southeast Asia.

Quah has joined this month and will focus on building relationships with consumer banks, private banks and insurers.

He has previously worked at Columbia Threadneedle and Schroders.

Schroders

The asset manager has made several changes across its Asia Pacific team.

The current Apac head of client group, Szu Yi Chin will become head of wealth for Apac.

While, Katherine Cox who has been the firm’s Apac head of strategic clients, product and private banks, has now been appointed as its global head of long-term asset owners.

In another move, Lily Choh, the firm’s chief executive for Singapore, has had a broadening of her role to oversee Singapore, Malaysia, Thailand, Indonesia and India as head of south Asia.

Similarly, the firm’s Hong Kong chief executive and Apac head of strategy, Gopi Mirchandani, has been named head of north Asia. Her area of focus will now include Hong Kong, Taiwan, Korea and Japan. She will also retain her role as head of strategy for Apac.

Chris Durack, who is currently head of Apac, as well as Karine Szenberg, head of Europe and global head of product and marketing, have been appointed co-heads of Schroders’ client group.

Stonehage Fleming

The family office has made a series of promotions across the London office.

In the family office division Jack Henderson and Anna Wetherell have been promoted to associate director while Francesca Maule and Eleanor Sowerbutts to manager and Edward Durgan to senior associate.

Within investment management, James Cook has been promoted to director, Mark Leshnick, Archie Burt and Miki Caves to associate director, and Ross Elliott to manager.

Robyn Bramwell has been promoted to director in corporate, legal and tax advisory.

In group services, Peter Rogerson has been promoted to director, Hannah Berry to associate director, with Claire Main and Oliver Taylor promoted to senior associate.

JM Finn

The wealth manager has promoted Todd Babington to head of operations following the retirement of Frank Reardon.

Babington has been with the firm for five years , he has previously worked at Arbuthnot Latham and HSBC Private Bank.

JTC

The wealth manager has appointed Helena Storjohann as director in its Geneva office, where she will be responsible for a portfolio of clients and trusts

Prior to JTC, Storjohann was at Julius Baer, where she was a wealth planner.

DFSA

The Dubai Financial Services Authority announced that Swee Lian Tee will be stepping down from its board of directors on 31 August.

Teo has served on the board for six years as the chair of the board’s risk committee and as a member of the governance and nominations committee and Emirati working group.

Fiera Capital

The asset manager has appointed Mandy Adamou as managing director, head of consultant relations in Europe, the Middle East, Africa and Asia.

Adamou will chair the firms Global Consultant Committee and will report to Klaus Schuster.

Prior to this role, she was managing director, global head of consultant relations at a global asset manager in London.

Close Brothers

The asset manager has hired Nic Heath as senior investment director.

He will provide bespoke investment management services for private clients, trusts, charities and pension schemes.

Heath has previously worked at Barclays Wealth and Investec W&I.

Rathbones

The investment manager has appointed Lynsey Carson as business development director.

She will be responsible for enhancing Rathbones’ partnership with adviser businesses across Scotland and Northern Ireland.

Carson joins from LGT Wealth Management where she was business development director and has also held senior positions at Coutts, RBS and NatWest.

Aviva Investors

The global asset manager has appointed Viktor Dietrich as research director and Rebecca Crocker as research analyst.

Both will report to David Hedalen, head of real assets research as part of a seven person team.

Dietrich was previously at Patrizia where we worked as an equity analyst while Crocker joins from American Express as a senior financially analyst.

This figure rises to 73% for UK investors.

The survey, which assessed the views of over 8,000 individual investors with more than $100,000 (£78,000, €92,000) in investable assets, also revealed that UK investors are expecting to make returns of 9.3% above inflation this year, higher than the global average expectations of 8.6%.

It also found that over the longer term, individual investors expect 13% returns above inflation.

Despite last year’s economic downturn, respondents globally said they generated positive returns of 1.9% on average.

Investors in the UK came closest to a loss, reporting they generated an average positive return of just 0.6%.

The report also showed that most investors anticipate a return to the bull market that delivered average annual total returns of 14.6% from the S&P between 2012 and 2021, including gains of 30% in 2019, 18% in 2020 and 28% in 2021.

Biggest financial fears

While investors globally reported feeling confident despite the changing economic backdrop, nearly two-thirds (62%) said that higher everyday costs are their biggest financial fear, rising to 71% among UK investors.

Almost half (43%) of UK investors said that a large, unexpected expense is a big concern, while 29% said that one of their biggest financial fears is a tax increase. Despite recession concerns, only 18% are afraid they will lose their job.

Darren Pilbeam, head of UK sales at Natixis IM, said: “Volatility and inflation are certainly impacting investors’ short-term outlook but longer term they are more optimistic about returns and their capacity to save for retirement. Central to achieving their goals will be working with trusted financial advisers, and the survey confirms that over half of UK investors still recognise the important role an adviser provides in navigating financial markets.

“The findings also reaffirm the importance of including active management to deliver returns and the importance of investors understanding the role different asset classes can play in delivering diversification and performance to a long-term investment portfolio.”

Concerns and risks

The survey also revealed that for 60% of UK investors, inflation is the top investment concern, and that 53% believe it is significantly impacting their ability to save for retirement.

More than half (53%) said they need to invest more to make up for inflation and 70% explained that rising costs have made them realise they must save more money, yet 42% admitted that they aren’t saving more.

After inflation, 47% see a recession as the biggest risk to their portfolio. Over a third (34%) pointed to market volatility and 27% said rising rates was the biggest threat to their investments.

Almost half (47%) of investors globally said they have more confidence in bonds to outperform in 2023, than equities compared to just 30% in the UK. In the UK, 25% of investors plan to increase their bond investments in response to rising rates – a much lower figure than the 46% globally who are increasing investments in bonds.

Gap in knowledge

However, while four-in-ten (42%) of UK investors say they understand the role of bonds in portfolios and the impact of rising rates on bonds (40%), when asked questions about what happens to bonds in a rising rates environment, only a small number of investors could provide the correct answers, 27% selected one correct answer and 54% stated that they did not know.

Furthermore, 59% of UK investors recognised that index funds provide returns that are comparable to the market, while 61% assumed index funds will help them minimise losses, and 56% made the assumption that index funds are less risky than other investments.

More than a quarter (29%) of UK investors defined risk as exposing their assets to volatility and 30% defined it as losing wealth. Only 8% viewed risk in terms of failing to meet their long-term financial goals, compared with 24% of financial advisers.

What investors want from advisers

While recent inflation has highlighted the importance of financial advice for 55% of UK respondents, only 31% said they need professional advice for investments.

When asked what advice services interest them the most, retirement income planning and financial planning came out on top, at 54% and 39% respectively.

Some 29% of UK investors also said they want their adviser to offer them tax-efficient investment strategies, 26% highlighted sustainable investments and 23% were looking for private investment opportunities.

The asset manager has announced Stephanie Bruce will step down as chief financial officer.

She will remain with the Group until 31 December 2023 to support an orderly transition and an announcement regarding her successor will be made in due course.

Stonehage Fleming

The multi-family office has appointed Sarah Bartram-Lora Reina as a trustee director in the Jersey family office division.

She joins from Ocorian, where she was an executive director.

Also joining Stonehage Fleming’s Jersey family office team is Claire Strecker as a director in risk and compliance.

She joins from Hawksford, where she was a fund compliance manager.

The firm has also hired client relationship manager Ashley Correia, compliance manager Kim Wink, and senior client accountant Henry Mehigan.

Canada Life

The insurance group has appointed Dave Sutton as customer services director.

He replacing Tracy Woodward, who takes up the role of director of compliance and regulatory affairs.

Sutton was previously head of business management for the chief operating officer’s office.

He has been with Canada Life for 22 years in a variety of roles across operations, change strategy and wealth, and lives on the Isle of Man.

Pacific Asset Management (PAM)

The London-based asset manager has hired Elliott Kibble as associate director in the UK adviser solutions distribution team.

He joins PAM following a number of years at LGT Wealth Management, most recently as business development director, where he was responsible for developing relationships across the north of England.

Veritas Wealth

Zachary Clabon has joined the Duba-based firm as director of operations and business development, according to his Linkedin profile.

He was previously at Skybound Wealth Management, where he was head of business development for UAE.

Sanlam Investments

Ben Hall has joined the firm’s wholesale distribution team as a sales director.

He was most recently at Atlantic House, where he was a senior sales executive for two years.

Broadstone

The independent pensions consultancy firm has named Kylie Arbon as its head of transformation.

She brings over 12 years of experience in the pensions industry as an actuary and consultant. She worked at BBS Consultants & Actuaries from 2011 before it was acquired by Broadstone in 2019.

IQ-EQ

The financial services provider has named Ilias Georgopoulos as global head of private and institutional asset owners.

Most recently, he was chief executive of Credit Suisse’s multi-concept fund management in Luxembourg.

Natixis Investment Managers Singapore

Rushil Khanna joins the business as head of equity investments for the region.

Prior to joining Natixis IM, he held various roles at Credit Suisse Asset Management most recently as head of equities for Asia Pacific and lead portfolio manager based in Singapore.

Oberon Investments

The London-based investment boutique has hired WH Ireland investment manager Mark Burtenshaw.

At WH Ireland, he was responsible for advising a portfolio of private clients while also heading the firm’s London office.

With 18 years in industry, Burtenshaw has also held roles at Morgan Stanley and RBC Wealth Management.

Head of multi asset David Millar is going to retire at the end of March 2023 after 10 years in the role at the investment firm.

From January 2023, Goergina Taylor will take over as head of the multi asset team and Clive Emery will become head of multi asset strategies.

Julius Baer

The Swiss-headquartered wealth firm has made five senior appointments within its Americas team.

Lucas Rizzi has taken on on the role of chief technology office and joins from Itau Private Bank, where he was head of customer digital experience.

Greice Rabelo has been named as a senior relationship manager, she was previously at BNP Paribas, where she worked as head of private bank Belo Horizonte.

Antonio Monteiro also joined as a senior relationship manager from ASA Investments, where he was responsible for single and multi-family offices.

Laura Drummond and Kevin Liu have both become relationship managers, having previously worked at XP Investimentos and Messem Investimentos, respectively.

Societe Generale

Investment banking boss Slawomir Krupa has been promoted to chief executive of the French banking group.

He will succeed Frederic Oudea, who is due to step down next year.

Krupa has been at the French bank since 1996 and in his current role since January 2021.

STM Group

The cross-border product provider has named Therese Nash as interim chief financial officer.

She will also join the board on an interim basis for 12 months, as Nicole Coll steps down at the end of October 2022

Nash was STM’s chief financial officer between 2014 and 2021.

JM Finn

The UK-based wealth management firm has recruited Rob Deverell as chief operating officer.

He was previously at Rothschild Wealth Management, where he most recently served in a similar position.

LV=

The UK mutual insurer has promoted Adam Ruddle to chief investment officer.

He was previously a senior investment manager at the firm.

Novia Financial

Amira Norris has become head of sales at the adviser platform.

Most recently, she was at Nucleus Financial, where she was head of account management.

Mirova

The Natixis IM affiliate has hired Guillaume Abel as deputy chief executive, based in Paris.

He joined from Ostrum Asset Management, where he was head of business development.

Hampden & Co

The UK-based private bank has expanded its senior management with two hires.

Kevin Eagles and Alistair Macpherson join as banking directors based in London and Edinburgh, respectively.

Eagles was previously a private banker at Wetherbys Private Bank, while Macpherson joined from Homes England, where he served as a senor manager in the structured real estate finance team.

GSB

The Dubai-headquartered wealth firm has named Lloyd Simpson as partner.

He joins from advice firm Acuma, where he spent eight years as an executive wealth manager.

Dora Seow will become chief executive for Singapore, effective from 10 October.

She joins from Franklin Templeton where she spent over 20 years, most recently as country head for Singapore.

LV=

The UK-based mutual insurer hired David Hynam as chief executive, subject to regulatory approval.

He previously held a similar role at Bupa’s UK and global markets and Friends Life.

Hynam succeeds Mark Hartigan who decided to step down from the top job after two years in an interim role, and will leave the business at the end of September 2022.

Blackrock

The US asset management giant has expanded its senior team for Asia Pacific. Tomoko Ueda becomes Apac head of corporate strategy and development, while Aarti Angara takes on the role of Apac head of product.

Ueda joins from Nikko Asset Management where she was a senior corporate officer and global head of strategic planning and management information.

Angara was previously chief investment officer at Caravel Asset Management.

Evelyn Partners

Paul Fidoe has taken on the position of business development director at the wealth management group, based in the firm’s Birmingham and Bristol offices.

He was previously at Barclays where he spent 22 years, most recently as business development manager for the wealth and investment management division.

Smart

Global retirement tech provider Smart named Eve Read as senior director of strategic delivery.

Most recently, she led the business delivery and customer engagement functions at the government’s defined contribution scheme, Nest.

Old Mill

The UK financial advice firm recruited Chris Watts as an associate director within its capital tax advisory team.

He joins from tax advisory firm ETC tax where he was for nearly two years in a similar role.

Ogier

Global law firm Ogier has expanded its sustainable investment consulting team in Europe.

Dasha Kuts will become a senior manager within the team, based in Dublin.

She used to work as a consultant at impact investing advice firm Enabling Qapital.

Franklin Templeton

The global investment manager has expanded its ETF sales team, with Martin Bechtloff and Lofti Ladjemi joining as senior ETF sales specialists in Dusseldorf and London, respectively.

Bechltoff used to work as a sales manager at HSBC Global Asset Management, while Ladjemi was at Tabula Investment Management where he was responsible for the ETF business in the UK.