City Financial, the London-based investment manager, has recruited Eden Financial’s head of asset management, Ed Rosengarten, along with four of his colleagues, in a move which will see the transfer of the CF Eden UK Select Opportunities Fund to City.

Rosengarten has taken up the newly-created role of head of UK asset management at City. The four other team members are: Leigh Himsworth, manager of the CF Eden UK Select Opportunities Fund; Thomas Leah, credit fund manager, who ran a segregated fixed income managed account at Eden; Kevin Mordrick, latterly head of discretionary sales at Eden; and Mark Harris, who was formerly a multi-asset fund manager at Eden and who is now charged with developing City’s in-house multi-manager capabilities.

As emerged last month, Canada-based Canaccord Financial has entered an agreement to acquire the wealth management business of Eden Financial so as to expand its UK wealth management platform, Collins Stewart Wealth Management.

“We are extremely pleased that Ed and his colleagues are coming on board. Our discussions with Eden Financial started only recently, but it swiftly became apparent to both sides that this was a timely opportunity that worked well for all parties,” Andrew Williams, City’s chief executive, said in a statement.

“It extends our capabilities, adding significantly to what we are able to offer our clients, and puts us in a strong position to increase the pace of our acquisitions in the coming months.”

Back in June, City Financial appointed David Crawford as its first in-house investment manager. Crawford was latterly at Octopus Investments and brought with him his Absolute UK Equity Fund.