JO Hambro Capital Management has appointed Andy Steel as chief executive of the group’s private client business, which the UK boutique investment firm says in time will separately branded.

Mr Steel, who was previously chief executive of JO Hambro Investment Management, has more than 15 years experience in the private client investment management industry, the firm said in a statement.

“Andy joins JOHCM with the brief to expand JOHCM’s private client activities and we are delighted to have secured someone with the depth of private client experience that Andy possesses,” said Gavin Rochussen, chief executive of JO Hambro Capital Management.

“Private clients and the provision of wealth management services is an important market and provides a long term stable client base. We believe the top rate service JOHCM already provides to its clients, combined with our compelling investment returns would be attractive to those investors who may have been disappointed with the service and performance they are currently receiving from other providers.”

JOHCM, which said it has had four quarters of net inflows, currently has £3.1 billion ($5 billion) in assets under management. Founded in 1993, the London-based firm has a staff of 76.