Lee joins from independent investment consulting practice Asset Risk Consultants, where he was associate director.

He will work with Graham Glass, lead manager of the City Financial Defensive Global Bond Fund.

He has over 25 years of experience in financial services and has previously held a broad range of roles, including portfolio management, proprietary trader, strategist and risk advisor at companies including HSBC, Old Mutual Asset Management and Exco International.

Last month, City Financial launched an Asian macro fund, with effect from the first quarter of 2014.

The new fund will be managed by Geoffrey Barker in a joint venture with City Financial Investment Company (Hong Kong), from its offices at Queen’s Road Central in Hong Kong.

In other recent news, in October City Financial confirmed that head of UK asset management Ed Rosengarte was leaving the firm in order to pursue other opportunities.

He was replaced by City Financial chief executive Andrew Williams.

In September, the firm also appointed Peter Toogood as an investment director and Gill Hutchinson as head of investment research.