People Moves

Who’s Moving Where In Wealth Management? – Forum Finance, HSBC, Others

Editorial Staff 30 September 2022

Who’s Moving Where In Wealth Management? – Forum Finance, HSBC, Others

The latest moves and appointments for wealth management roles in the UK, other parts of Europe, the Middle East and select international locations.

The Forum Finance Group
Geneva-based independent asset manager The Forum Finance Group this week appointed Hippolyte de Weck as CEO, starting in October. 

He is replacing Etienne Gounod, who is stepping down from the executive committee to become chairman of the board of directors, the firm said in a statement. 

This change of generation at the head of the company is part of the governance system that Forum Finance put in place to organise the gradual retirement of managing partners from the age of 65, the firm added. 

De Weck joined Forum Finance as a managing partner in 2011. Prior to that, he worked within the UBS Group for 17 years, holding various positions in the areas of bond issuance, risk management and private wealth management in Frankfurt, Zurich and Geneva, the firm said. 

Gounod stressed: “After 13 years as CEO and 19 years as managing partner, it is time for me to hand over the operational management of Forum Finance and focus on the long-term strategy of the company as chairman of the board."
De Weck added: "The warnings and figures published by FINMA in August clearly indicate that hundreds of Swiss asset management companies will not obtain this prized licence in time.”
“Our size, the structure we have already put in place, our development prospects and the possibilities we offer to access our equity make Forum Finance a particularly convincing solution for wealth managers looking for a new environment in which to continue their activities," he said.

Founded in 1994 in Geneva, Forum Finance offers private banking and asset management services to a high-end global clientele, managing SFr2 billion in assets. 

HSBC Retirement Services appointed this week Joanne Holden as head of governance, to lead the governance structures and processes of its Master Trust.

Holden has spent the past seven years leading the governance of HSBC’s global pension risk exposures for its employee pension plans across multiple markets, including Hong Kong, the US and, most recently, the UK, the firm said in a statement.

With 20 years’ pension scheme governance experience, she brings both industry and banking expertise to the role, with previous consulting positions at the multinational financial services firm Aon, as well as asset management company Mercer.

Welcoming the move, Alison Hatcher, CEO of HSBC Retirement Services and its Master Trust, said: “Her deep knowledge and experience of the industry strengthens our mission to help set everyone on a path towards a better retirement.”

“With new value for member requirements now putting pension providers under the spotlight, her appointment comes at the perfect time to showcase how we’ve built a Master Trust which ensures member value is at the forefront of what we do,” she stressed. 

Holden added: “I’ve been watching this proposition grow, especially taking notice of its unique ability to identify and help members based on the financial challenges they face throughout different stages of their life.” 

“So naturally, whether supporting our younger members to get into the habit of saving, helping to set an individual’s financial priorities or providing a seamless and friction-free path into retirement, I can’t wait to help,” she stressed.

HSBC, a banking and financial services organisation, said members will benefit from an integrated pensions dashboard, banking services and pension pot consolidation through the Trust. There are also communication features including personalised messages and prompts and an intelligent chatbot to quickly deliver answers to member questions, regulated by The Pensions Regulator since 2019.

Headquartered in London, HSBC Holdings plc, the parent company of HSBC, has offices across Europe, Asia, North America, Latin America, Middle East and North Africa, with assets $2,985 billion.

Arbuthnot Latham
Arbuthnot Latham, a private and commercial bank, this week appointed Lee Jones as director of intermediary sales, to support its expansion of its discretionary fund management service. 

Its Model Portfolio Service and Discretionary Portfolio Service are available to UK financial advisors, the firm said in a statement. The new Platform MPS can be accessed via four platform providers: Quilter, Fidelity, Aviva and Transact.

Jones will be pivotal for building advisor relationships and growing Arbuthnot Latham’s assets, the firm stressed. 

Most recently, he worked at abrdn and Scottish Widows as a business development manager focused on intermediary sales in the South of England. 

Financial advisors can also access Arbuthnot Latham’s full suite of banking services, including private banking, and lending solutions, as well as investment management, on behalf of their clients.

Welcoming the move, Jones said: “We have developed this proposition through the lens of an advisor. We aim to make it as easy as possible for financial advisors to serve their clients, and provide investment solutions that are appropriate, robust, and repeatable.” 

Eren Osman, managing director and head of investment management at Arbuthnot Latham added: “For some time we have been seeing a growing demand for financial advisors to partner with discretionary fund managers.” 

“We have a strong track record of working in collaboration with professional intermediaries, and this new proposition will deepen these relationships.” 

Evelyn Partners
UK wealth manager Evelyn Partners made a senior hire this week, appointing Jonathan Badcoe as an investment manager, to strengthen the team. 

Badcoe will focus primarily on advisory clients at Evelyn Partners’ London offices, the firm said in a statement.   
He has been managing money on behalf of private clients, corporate mandates and charity accounts in the City of London for the last 15 years, at firms such as Investec and JP Morgan, the firm added.  
At Investec Wealth and Management, he was an investment director for more than a decade, responsible for managing multi-asset portfolios for high net-worth clients and trusts as well as charity and corporate mandates. He was also a member of the ESG investment team, helping clients to identify and achieve their financial plans and goals. 
Welcoming him to the firm, Sam Coppin, managing partner at Evelyn Partners, said: “He has significant private client experience across discretionary and advisory mandates and he joins us at an exciting time for the business with the launch of our new combined, client propositions.”  
“Having someone of his knowledge and experience join is a big boost for our London team,” he said  
Badcoe added: “Recent market events continue to highlight the importance of good advice tailored to individual circumstances. I am looking forward to working, together with my new colleagues, to help clients old and new navigate through these challenging times and achieve their financial goals.”  

Evelyn Partners was created following the merger of Tilney and Smith & Williamson, with £52.7 billion of assets under management.

This week, private wealth specialist Henry Wickham was appointed as head of Ogier's global estate planning, wills and probate team, providing a multi-jurisdictional and multi-service offering to local and international clients.

Ogier’s global estate planning, wills and probate team has specialists in BVI, Cayman, Guernsey and Jersey law who advise on all aspects of estate planning, wills and probate legislation, including powers of attorney, the firm said in a statement.

Alongside taking over this role, Wickham will also continue to provide broader private wealth services to include advising on all aspects of Jersey trusts, foundations and related corporate issues and providing notarial services.

Wickham is a Jersey Advocate, a notary public and a former chair of the STEP Jersey Branch. He is also a lead editor of the STEP Directory Jersey overview, the firm added.

Welcoming the move, global strategy partner and head of local legal services Jonathan Hughes said: “He is a recognised leader in the private wealth industry locally and internationally with significant experience in estate planning, wills and probate.” 

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