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Lester and Neptune duo to set up fund boutique

Neptune head of strategic partnerships John Lester and two of his team are leaving to set up a new investment boutique.

Lester leaves the company after six years, with head of UK strategic partners Dennis Pellerito and junior sales support member Andrew Nickson.

Last week, Neptune announced plans to review the structure of its UK retail sales team. Sales director Patrick Berton and head of UK intermediary sales Adam Hughes will conduct the review.

Neptune Investment Management deputy managing director Richard Green says: “We are moving to the next stage of our business development, building on but also consolidating our earlier rapid growth.

“Since entrepreneurial spirit remains integral to our culture at Neptune, I accept that there will be occasions when those involved in Neptune’s earlier successes, should aspire to try and achieve it again elsewhere, at a more senior level. We wish them well.”

Chelsea Financial Services managing director Darius McDermott says: “Neptune has a large and successful sales team but these guys will be a loss to the firm and will do well at this new investment boutique.”

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