People Moves

UK's Hurst Point Simplifies Structure, Makes Management Changes

Tom Burroughes Group Editor London 14 February 2024

UK's Hurst Point Simplifies Structure, Makes Management Changes

The business, which has a mix of assets under management and advice, has compressed its existing structure into four main function areas, and unveiled a number of appointments.

UK-headquartered wealth management business Hurst Point has restructured operations with top-line appointments. Yesterday, it also reported total assets under advice/management of just under £10 billion ($12.7 billion) for the end of 2023.

The firm, which is registered in Jersey, and backed by lead investor Carlyle Group, has about £4.75 billion of assets under advice in its financial planning business. The investment management arm mainly operates under the Hawksmoor brand.

Hurst Point has simplified its structure, melding activities into four central functions: Finance; legal, risk and compliance; human resources; and IT, transformation and facilities. The group has formed new management committees, reporting to the group executive committee, which will be led by group CEO, Ian Gladman (financial planning) and Hawksmoor Investment Management CEO, Sarah Soar (investment management).

Among other changes, the firm said in a statement that it has named Andrew Westenberger as group chief financial officer to lead the finance team, replacing Michael Kerrison who has left the group to pursue other interests; it has appointed Ed Renwick, general counsel, to lead the legal, risk and compliance team; and appointed Alex Knott, chief technology and transformation officer, to lead the IT, transformation and facilities team.

All appointments are subject to regulatory approval where applicable.

As a result, Ben Conway, who leads the Hawksmoor Fund Managers funds business, has been named chief investment officer for Hawksmoor and chair of the investment committee. He will remain as head of Hawksmoor Fund Managers and a named fund manager on the Hawksmoor funds. To align the group’s research activities under a consistent investment philosophy, the research team will also report to Conway, the business said.

John White will leave the firm at the end of April because his priorities have changed and his role envisaged with the re-organisation will change, Hurst Point said.

This was agreed some time ago and his responsibilities as managing director would transfer to the group CEO and members of the financial planning management committee.

Hurst Point said it is “well-advanced” in talks about hiring a leader of its financial planning advisor team. If necessary, it will set up interim arrangements.

The business, which was founded in 2019, has 12 offices around the UK. 

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