People Moves

Who’s Moving Where In Wealth Management? – Saffery Champness, Carmignac

Editorial Staff 4 April 2023

Who’s Moving Where In Wealth Management? – Saffery Champness, Carmignac

The latest moves and appointments in wealth management in the UK, the rest of Europe, the Middle East and other select locations.

Saffery Champness 
Accountancy firm Saffery Champness has announced six partner promotions for 2023, with directors from its Bristol, Bournemouth, London and Inverness offices making the step forward.

Women make up the majority of those promoted, the firm said in a statement. Starting immediately, they include Casidhe Baleri, who will be responsible for managing the office’s not-for-profit clients. Baleri qualified at Saffery Champness in Bournemouth as a chartered accountant and later as a chartered tax advisor. 

They also include Seb Cartwright, based in the London corporate finance team, who will work on transaction support and business advisory engagements across a range of sectors. Thirdly, Hilary Clelland, based in Inverness, will lead corporation tax services for a range of clients in and around the Highlands. She also supports clients across the UK with corporation tax compliance and advisory services, the firm continued.

Sarah Donaghay leads the firm's outsourcing service line. Based in London, she has over 25 years' experience in providing tailored outsourcing solutions to clients and provides business advice based on the digital reporting delivered by her team, the firm added. She has been responsible for the firm's adoption of cloud-based accounting technology,and has used this knowledge to advise clients on how best to structure their finance functions. 

The promotions also include London-based Kathy Johnson, a member of the firm’s sports and entertainment group. Johnson has 25 years’ experience of advising entertainers and production companies, ensuring that they are compliant in terms of both tax and social security obligations, the firm said. 

Sean Watts, a corporate tax advisor with experience of advising businesses and their owners on their tax affairs across a wide variety of industry sectors, has also been promoted. Based in Bristol, Watts' experience includes advising on tax matters associated with acquisitions, disposals and restructuring companies, employee incentive structures, tax aspects of debt and equity fundraisings and capital allowances, the firm continued.

Matthew Burton, managing partner of Saffery Champness, said: “We believe strongly in ensuring everyone in our firm has equal access to opportunities and career progression, and our future leaders, including those promoted today, are a testament to the breadth and depth of talent which we have here at Saffery Champness.”

Carmignac has appointed Jacques Hirsch as co-manager of the Carmignac Portfolio Patrimoine Europe fund, a flexible, mixed Europe allocation fund.

Hirsch, who will be based in London, will be joining the firm in July. He will take over Keith Ney's responsibilities, who has left Carmignac for personal reasons, the firm said in a statement. Hirsch will be in charge of managing the fixed income element, macro overlay, risk management and portfolio construction of Carmignac Portfolio Patrimoine Europe. He will also join Carmignac's Strategic Investment Committee, responsible for producing robust market convictions, as well as providing top-down macroeconomic analysis to the firm’s wider investment team.

Hirsch will be joining Carmignac from Ruffer, where he has worked since 2011, most recently as co-manager of a multi-billion AUM, flexible, multi-asset fund that is currently 5-star rated by Morningstar, top quartile over one, three and five years and was top decile in 2022. He has spent most of his career in the asset management industry and has worked for Goldman Sachs and GLG Partners, the firm continued. 

In the interim period before Hirsch's arrival, the management of the fixed income element of Carmignac Portfolio Patrimoine Europe is being entrusted to Marie-Anne Allier, a fixed income manager and co-manager of the flagship Carmignac Sécurité fund since 2019, the firm said. The equity element of Carmignac Portfolio Patrimoine Europe will continue to be managed by Mark Denham.

Carmignac Patrimoine will continue to be co-managed by Rose Ouahba, head of the fixed income team, and David Older, head of the equity team.  

Welcoming him to the firm, Edouard Carmignac, chairman and CIO of Carmignac said: “He is an experienced portfolio manager who has demonstrated his ability to deliver strong performance throughout various market conditions, including the volatility of recent years.”

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