The Money Portal will launch a fund admin platform service designed to compete with the admin services of a major international bank.
TMP has appointed three leading investment experts to run the business which provides distribution and admin services for fund management companies.
It has recruited John Ellis from JP Morgan Fleming Asset Management as head of the service and executive director on the board. At JPMFAM, he developed strategic links with major banks and led the wrap proposition.
TMP has also recruited Mark Tennant as corporate adviser and Simon Ewan as executive director.
Tennant, who will work with the executive team on the platform operations and new business, was senior vice-president of JP Morgan Global Investor Services.
Ewan was head of wealth markets at SEI Investments and will work with Ellis to create the platform service.
Managing director Rich-ard Craven says: “This is further evidence of our commitment to hold the depth and breadth of management expertise across all facets of our group which quite simply does not exist anywhere in the sector.”
The investigation into the chairman and the managing director of TMP firm Bates Investment Services continues. Craven suspended Richard Bates and sister Helen Peace for “management issues” earlier in the month.