HSBC announced that global private banking chief executive Peter Boyles is to retire, and will be succeeded by António Simões. Mr Simões, who will take over on 1 January 2019, joined HSBC in September 2007 as group head of strategy, reporting to the group chairman.
Saranac Partners, the wealth manager founded by former Barclays executive Tom Kalaris, confirmed the appointment of the firm’s management team as it said it aims to execute its “growth plans”. The management team will be made up of five partners including Tanvi Davda as managing partner and head of clients who will lead the team.
Mirabaud Asset Management hired a new director charged with leading its coverage of external wealth managers, fund of funds, and financial institutions markets across the UK and Ireland.
A decision to write down the value of its investments in Lord North Street and Northbridge Group, two of its subsidiaries, by £9.11 million coupled with an operating loss of £1.58 million resulted in Sandaire reporting a pre-tax loss of £9.03 million for the year to 31 December 2017, according to its latest annual report and accounts which have just been deposited at Companies House. This compares with a pre-tax profit of £1.95 million registered for the previous year.
Tilney Group appointed Andrew Baddeley as a member of board of directors, according to a filing at Companies House. Mr Baddeley, who is also Tlney’s chief financial officer (CFO), joined the firm in August.
James Hambro & Partners (JH&P) hired long-time Quilter Cheviot director Paul Cherry, as the former looks to expand its reach in the north of England.
Editor at large Ian Orton took a closer look at the write down at Sandaire.
Freddie Pooter shed some light on Hanspeter Brunner’s, late of Coutts and BSI, latest venture.
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