Discretionary Management 

Whitechurch Securities boss departs

Whitechurch Securities boss departs

Gavin Haynes, managing director at Whitechurch Securities, has departed the firm.

In addition to his role overseeing the day-to-day management of the Bristol-based discretionary fund management (DFM) and advisory business, Mr Haynes also chaired the investment committee and oversaw the investment management function, including managing multi-asset portfolios.

Mr Haynes next employment destination is not known.

He joined Whitechurch Securities immediately after graduation from University 22 years ago, and became managing director of the firm 12 years ago.

The company's chairman, Kean Seagar will take over the running of the business until a replacement for Mr Haynes is found.

In 2018 Mr Haynes announced the company would cut fees on multi-asset portfolios, while the advice side of the business announced its intention to partner with advice firms to take on a small number of appointed representatives, as a way of growing the business.

A spokesman for the company emphasised at the time that it was not seeking to create an adviser network, as a network tends to have more adviser partners than Whitechurch is seeking.  

The company made a profit of £1m for the year to end of February 2018, 20 per cent less than the previous year.

2018 was the first year the advisory business of Whitechurch Securities made a profit.

david.thorpe@ft.com