Ashcourt Rowan Asset Management group investment director Guy Stephens and head of fund research Tim Cockerill have quit to join Rowan Dartington.
As revealed last week by Moneymarketing.co.uk, Stephens has been appointed chief investment officer while Cockerill joins as head of investment collectives. Both are set to join Rowan Dartington in September.
Last week Ashcourt Rowan director David Hanrahan also left the firm to join Brewin Dolphin as divisional director, alongside two other investment managers Amir Ali and Abigail Bolt who join Brewin as investment managers.
Rowan Dartington has also appointed Oliver Cowell as investment executive. Cowell joins from stockbroking firm Redmayne Bentley, where he was a senior stockbroker.
Informed Choice managing director Martin Bamford says: “You do question what is going on in any IFA firm or wealth management firm that has so many people leaving. Any firm in this situation will be asking questions about its future and culture.”
“Cockerill has a strength when it comes to research and is very savvy in terms of marketing, so it is a good win for Rowan Dartington.”
A spokesman for Ashcourt Rowan says: “There has been a significant change in the business in the past 18 months and as the firm has moved to a performance-based culture there are always people who feel it is not the appropriate environment for them and choose to move on.”
Rowan Dartington chief executive Graham Coxell says the team is keen to build its fund research capabilities.
He says: “We want a first-class proposition that covers all bases. The other aspect is to ensure we keep adding to the senior team by hiring like-minded individuals who can bring something to the table. Tim does a job that is second to none in the industry while Guy has a lot of expertise about how we should structure our products to the wider IFA and private client industry.”