CompaniesJul 21 2014

European Wealth appoints new financial controller

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European Wealth has hired Adam Suggett as a financial controller with the aim of strengthening its management team.

Suggett joins from Hume Capital Securities, having previously been a manager in Grant Thornton’s capital markets team.

Rod Gentry, chief executive at European Wealth, said:“As a business that was launched in preparation for a post RDR environment, a core strength of the group is our back-end technology platform and associated internal management processes.

“We are delighted that Adam will be bringing his considerable skills and experience to our expanding team as we continue to build our presence in the market.”

Mr Suggett said: “I look forward to combining my corporate finance experience with my skills of running an investment bank’s finance team to help European Wealth achieve its ambitious growth plans.”

In June, European Wealth completed the acquisition of IFA business Compass, which at that time had £31m of funds under influence. Compass had been acquired for a maximum consideration of three times its recurring income for the 12 months following completion.

This was the firm’s first acquisition since listing on Aim in May this year, and fifth in total.