London investment firm Jonathan Fry & Co has recruited structured product and investment specialist James Scott from Citigroup. The firm is expanding its Fry Family Office investment and asset advisory service, with several other high profile appointments planned for the autumn.

Mr Scott was a key developer of Citigroup’s structured product programme, both in the UK and markets such as Turkey, the UAE, and Bahrain. He also helped research and develop products with co-partners such as UBS, Citi, Merrill Lynch, JP Morgan, Deutsche, BNP Paribas and Barclays Capital, as demand for his skills intensified.

“It is no secret that the private banks do not always provide the best-in-market bespoke service for their high net worth clients,” said Mr Scott. “Product ranges are all too often severely restricted, and under-performance is unfortunately all too common.

“Fundamental to my Fry Family Office brief is to ensure that all our clients are getting the very best returns possible from across multi-asset classes, whether these be equities or life settlement funds, commodities to structured and hedge-based products, in order to deliver premium value to our specialist financial planning service,” he added.

 “High net worth individuals are currently being offered a range of "wealth management" services by financial institutions," said founder Jonathan Fry.

“While there is an understandable appeal of dealing with a well known, long established, brand, we would question the extent to which such an organisation can offer the necessary degree of personal commitment, independence and objectivity which are genuinely required by those whose affairs are more complex and needs are more sophisticated,” added Mr Fry.

Jonathan Fry & Co provides bespoke wealth preservation strategies for high net worth individuals. The firm has offices in London, Newcastle-upon-Tyne and Richmond, North Yorkshire.