Close Brothers Asset Management has appointed Rathbones' Tim West as managing director.
The fund house today announced (January 20) it hired Mr West to strengthen its high net worth client proposition and to help grow the company through further expansion.
Mr West had worked at Rathbones for 22 years as a senior investment director. He managed portfolios for individuals, trusts and charities and was responsible for research in listed private equity and small company funds.
He also represented Rathbones on the Wealth Management Association indices committee.
Mr West will join Close Brothers’ London office where he will report to Andrew Hess, a managing director at the firm who also worked at Rathbones before making the move.
Martin Andrew, chief executive of Close Brothers AM, said: “Mr West’s appointment means that we start the year as we mean to go on.
“Bringing a wealth of experience in the private client sector, he is an exceptional addition to our ever-growing team based in the West End office.”
Mr Andrew said the appointment of “high calibre professionals” such as Mr West was key to delivering the firm's strategic vision.
He added: “I look forward to working with him as we continue to grow and enhance our high net worth proposition in 2020.”
Close Brothers AM had a difficult 2019, with a 3 per cent decline in assets in January and sliding profits in March. In July, the company warned its profitability continued to reflect “lower market levels”.
It also saw a shake up of senior staff as chief executive Preben Prebensen resigned after 10 years in the role in September. In November chief investment officer Nancy Curtin stepped down after a similar time with the firm.
imogen.tew@ft.com
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