Principal Investment Management, the UK private client portfolio management specialist that is owned by South Africa’sSanlam Group, has appointed Palak Patel and Robert Allinson to its investment management team.

Ms Patel joins the company's Sevenoaks, Kent office as an investment manager, focusing on direct investments. She joins from UBS, where she was also associate director. Prior to UBS, she was a portfolio advisor at Coutts & Co.

Mr Allinson has been appointed senior investment manager to the London office where he will be looking after managed funds. He comes from Heartwood Wealth Management, where he was associate director of managed funds. Mr Allinson has experience managing multi-asset private client portfolios and specialising in equity manager research and selection, the firm said.

“I am delighted that Palak and Robert will be joining Principal. Both bring a wealth of investment experience to the company and will play a key role in our ambition to develop business,” said Hugh Titcomb, chief executive of Principal.
 
Principal has offices in Sevenoaks, London and Bath. It manages approximately £900 million ($1.5 billion) of client assets. It specialises in discretionary portfolio management for private individuals, family trusts and smaller corporate clients.