Seneca IM overhauls senior management

Seneca IM overhauls senior management

Seneca Investment Managers has appointed David Thomas as chief executive officer and director.

Mr Thomas was formerly head of UK retail at Momentum Global Investment Management, where he also handled global client services and marketing.

Peter Elston, formerly global investment strategist at Seneca IM, has been promoted to the position of chief investment officer.

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Ian Currie, chairman of the Liverpool-based fund manager, commended the new officers for their “tremendous strength and experience”.

He added: “Seneca IM is committed to becoming a leading name in fund management, and David will provide leadership and positioning for the business.

“Peter’s promotion to CIO acknowledges the leading role he plays in the Seneca investment proposition.

“He will be at the centre of our aim to preserve and extend our clients’ hard earned capital and his wealth of experience has already enabled us to further strengthen our investment process.”

Mr Elston will head up an investment team of six, managing two open-end funds and an investment trust, with a total of £400m asset under management. Founded in 2002 as Midas Capital Partners, the firm was acquired by Seneca Asset Managers in 2014.