John Spiers returns to Bestinvest
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Bestinvest founder John Spiers has reclaimed his role as the firm’s chief executive less than 18 months after selling his stake to private equity firm 3i.
Spiers takes on the chief executive role following the departure of Andrew Barnes, who took on the role from Spiers in January 2007.
Since founding Bestinvest in 1986, Spiers had grown the operation to a 100-strong team running more than £3.7bn in assets.
Bestinvest has been through turbulent times since the takeover by 3i, having lost numerous senior members of staff, the most recent of which was the departure of the majority of the investment management team, prompting the firm into a re-shuffle.
Barnes’ departure three weeks ago was also under a cloud given that in an interview with Money Marketing earlier this year he said he would be with the firm in the long run.
Spiers says: “Bestinvest has always led the charge in providing high-quality financial advice, backed by ground breaking investment research. I am delighted to return to the fold after a break from day-to-day involvement and look forward to working with such an enthusiastic and commitment management team and staff.
“The current climate presents both challenges and opportunities. I am confident Bestinvest will provide the guidance and support customers need to ride out present market conditions and deliver long term growth. Together with the backing from 3i, this will enable Bestinvest to be bigger and better than ever before.”
Bestinvest chairman Ray Greenshields says:”John has always been heavily invested in Bestinvest, both emotionally and financially. We are delighted that he has chosen to re-engage on a commercial level and could not ask for a better leader for our clients during the current global crisis.”
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