European Wealth Management Group, a new UK-based firm which launched at the start of this week, has already begun to hire staff for its investment subsidiary, it has emerged.

EWMG was formed by George Robb, a founder and former chairman of Aberdeen Asset Management, John Morton and Rob Gentry, both of whom were directors at Ashcourt Holdings (a subsidiary of Syndicate Asset Management). The launch of EWMG was reported by this publication on Monday.

The new firm’s investment subsidiary, European Investment Management, has brought on board Simon Whittley, previously of Fiducia Family Office, and Richard Wayne-Wynne, one of the founders of Vestra Wealth Management. They join Richard Stammers, a former partner at Killik & Co, on the investment team.

Morton reportedly plans for EWMG to have £1 billion in funds under management in three years and £3 billion in five years. The firm is also understood to be looking to establish a network of offices across Europe.