Titan Wealth, a vertically integrated business offering custody, platform, discretionary fund management and financial planning, has created a new senior role.

Titan Wealth has appointed Ian Wood as group chief investment officer (CIO) of Titan Investment Solutions.

Wood (pictured) is currently CIO of Titan Private Wealth but will also take responsibility for investment decisions at Titan Investment Solutions as group CIO, the firm said in a statement. He is taking on this newly-created role after nearly two decades at Titan Private Wealth (formerly Cardale Asset Management), a discretionary investment manager based in Harrogate, which was acquired by Titan Wealth in 2022.

Wood has a track record of managing money. Between 31 December 2018 and 30 June 2024, the Titan Private Wealth All Equity portfolio increased in value by 104.24 per cent, which compares to the IA Global sector which has risen 79.48 per cent, the firm added.

Wood recently told WealthBriefing in an interview that Titan Private Wealth is heavily overweight in the luxury space, and slightly overweight in the tech sector. He pinpointed Paris-based Hermès International, a French luxury goods brand established in 1837, as a top stock pick. Known for the Birkin Bag, named after the British and French actress and singer Jane Birkin, Hermès specialises in luxury leather goods, accessories and clothing. “It is the best business we have,” Wood said. “The wealthy continue to buy it. I would buy it all day long.” See more commentary here.

With this latest acquisition of AHR in Dubai, the group now has £8.7 billion ($11.1 billion) of funds under management.

As group CIO, Wood will oversee the investment strategy across the businesses and play a role in developing and growing Titan Wealth’s asset management business, the firm continued.

Mark Harries is staying on as chief investment officer of Square Mile and will work with Wood to ensure that the investment strategies across the group are aligned.

“Ian has done a fantastic job as CIO of Titan Private Wealth, and has a formidable track record. With his appointment as group CIO, he will bring his wealth of experience and decades of invaluable leadership experience to the wider Titan Group,” Paul Hunt, joint CEO of Titan Asset Management, said.

“As CIO of Titan Private Wealth, I have already developed close and productive working relationships with colleagues across the group, which will be invaluable in my new position,” Wood added.

Titan Wealth is targeting £100 billion in assets across financial planning, investment planning and custody over the next three to five years. It is aiming to become one of the largest independent wealth management groups in the UK and overseas.