UK's Ashcourt Rowan Adds Senior Hire

Stephen Little

6 February 2014

UK wealth manager has appointed Stewart Murray in the newly created role of investment director to its London team.

Murray joins from Vintage Asset Management, where he was chief investment officer, responsible for the performance driven management of the company’s portfolios. He was also chairman of Vintage Asset Management’s investment committee.

Before this, he managed the Munros European Smaller Companies fund at Munros Capital Management and while there he also specialised in the UK component of the company’s portfolios.

Last month, Ashcourt Rowan acquired Generali Portfolio Management in a deal which will give the group up to £215 million ($353.8 million) in assets under management. As part of the deal, a team of seven will join Ashcourt Rowan, led by senior investment managers Alan Arscott and David Barber, Ashcourt Rowan said in a statement.

The acquisition takes Ashcourt Rowan's discretionary and managed assets under management to £2.1 billion and adds around £2 million of predominantly recurring annual revenues.