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Burns becomes Bluefin chief in shake-up

John Simmonds has been replaced as Bluefin Advisory Services chief executive by Bluefin Corporate Consulting managing director Nick Burns.

Simmonds becomes executive chairman of Bluefin Corporate Consulting and Bluefin Wealth Management. He will have a focus on strategy and brand development. Burns will also carry on in his role at Bluefin Corporate Consulting. Axa non-executive director Ian Brimecome replaces Tim Trotter as Bluefin non-executive chairman.

In October last year, Bluefin Advisory Services revealed a £62m writedown after the restructure of its private client arm. Adviser numbers were cut from 180 to 50. In December, Bluefin said former Thinc Destini shareholders will not get a share of a £60m deferred payment from Axa after it failed to hit performance targets.

Consillium Financial Planning managing director Kevin Morgan says: “These changes show it believes it can turn the business round.”


Gemini MOSt India fund mines local knowledge

Gemini Investment Management’s MOSt India fund is attracting interest from multi-managers looking to diversify their funds with an Indian holding managed by a local expert rather than a global generalist. India-based fund manager Motilal Oswal runs the fund, providing investors with access to its domestic knowledge. The fund invests in a concentrated portfolio of 20 […]

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Merchant House recruits 120 former Clarkson Hill advisers

Merchant House has recruited 120 former Clarkson Hill Group advisers and raised £345,000 of share capital following the acquisition of the firm’s assets. The company launched its financial planning arm, Merchant House Financial Services, in December after acquiring assets from Clarkson Hill. The firm now has 32 FSA-registered IFAs and says it expects the regulator […]


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