Brooks Macdonald Asset Management has bolstered its London office with the hire of investment director Robert Seifert.

Seifert spent the past five years with Cheviot Asset Management, where he was a private client investment manager and head of the sports desk. Prior to this he worked at UBS and Laing & Cruickshank.

In his new role Seifert’s responsibilities include running private client portfolios as well as driving new business with IFAs and private clients, with a particular emphasis on the sports segment. He is Brooks Macdonald’s fortieth investment manager (a further 14 are currently training on the firm’s graduate programme).

Brooks Macdonald has said it is expanding its investment management team in order to cope with the increased business it is seeing from IFAs looking to outsource their investment management activities ahead of the implementation of the regulator’s Retail Distribution Review. Brooks Macdonald is one among several firms, such as Close Asset Management and Cheviot, which have been busily snapping up assets from such advisors in recent months.

Brooks Macdonald currently has £2.803 billion (around $4.6 billion) in funds under management.