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People on the move

ProVen VCT manager Beringea has promoted Jeff Cornish, Trevor Hope and Jamie Kennell to the board as directors. Cornish joined the firm in 2004 from IFA Alexander Forbes and is responsible for raising funds for the Beringea VCTs. Hope and Kennel are investment managers and have been with the firm since 2003 and 2005 respectively.

Stockbroker Christows has appointed Jim Wood Smith as head of research. Wood Smith joins from Barclays Investment Services where he was head of equity strategy. Previously, he was head of research at private client business Greig Middleton. He will assume responsibility for all research functions at Christows, including asset allocation, equity and collective research.

JP Morgan Asset Management has appointed Campbell Fleming as head of its UK business, with responsibility for instit-utional, retail, investment trusts and life and pensions. Fleming will report to head of European business James Broderick. Fleming was head of European technology and operations at the firm and has a legal background, having worked as a barrister in the supreme court of New South Wales in Australia and as a solicitor in England and Wales.

Legal & General Investment Management has appointed Peter Chambers as chief executive officer. Chambers has been chief investment officer at Gartmore and chief executive of Framlington. He joins LGIM on November 14 to take over from Tim Breedon, who will become chief executive of L&G group in January.

Axa has appointed Graham Harvey as marketing director for its life insurance, pensions and investments business in the UK. He joins from Friends Provident, where he has been marketing director for the last four years. Harvey will support the firm’s IFA distribution and tied sales channels and is to join Axa in the second quarter of 2006.

Merrill Lynch Investment Managers has appointed Mike Boardman as a director of retail operations. He joins from Gartmore, where he was chief operating officer of European retail, with responsibility for operations and outsourced relationships across the firm’s non-US business. He was also inv-olved with product devel-opment and Gartmore’s acquisition of Govett.

Bates Investment Services head of investment research James Dalby (right) is moving to Norwich Union as head of collective investments. Although his exact role is still being thrashed out, he is expected to be heavily involved in product design and marketing and will work closely with sales director John Clougherty to drive NU’s investment sales.

Sesame commercial direc-tor Charlie Bryant (far right) is leaving the group to take up a directorship in Deutsche Bank’s European technology group. Bryant, who led the launch of Sesame’s multi-tie, Sesame Direct, is returning to investment banking after previous stints in the City between 1992 and 1999 at first BZW and then Credit Suisse First Boston.

Steve Young is taking over responsibility for sales and marketing at Sesame following the departure of Bryant. Young joined Sesame in 2002 after 14 years at Halifax, where he was head of communications, and his role will also include maint-aining provider relations.

Carrwood Barker founder John Stevenson is joining the board of Lighthouse Group following the adviser’s acquisition of the firm. Stevenson founded Carrwood Barker 13 years ago and it currently employs 40 RIs, who will move under the Lighthouse banner. At the same time, the firm is raising 3m from a share issue to fund further expansion.

Tenet Group executive chairman Keith Carby is set to head a new advisory firm called Foster Denovo. Advisers from its Capital Planning arm will transfer to the business, which will target high-net-worth individuals. Carby is aiming to have one admin support staff per eight advi-sers to maximise their output.


Clerical Medical holds A-day teleconferences

Clerical Medical has been holding teleconferences with IFAs to enable them to prepare for A-day without leaving the office.Advisers can dial in to the conference from their office or have one to one conferences, saving travel time and cost.The firm says feedback from the sessions has been positive and a number of financial advisers have […]

Alphabetical disorder

The alphabet soup of adviser qualifications is confusing consumers and some bodies are simply launching more and more to line their own pockets, says IFA Promotion chief David Elms.

SVM replaces investment team defectors

Investment boutique Scottish Value Managers has taken on three managers to rebuild its investment team after a series of defections. Hugh Cuthbert, Hector Kilpatrick and Neil Veitch join the firm from Kempen Capital Management. SVM says it anticipates being up to full strength by the end of the year. Cuthbert will run the continental European […]

Neptune moves to profit share in bid to stem exodus

Fund boutique Neptune is losing its UK equity man- ager Greg Bennett and has set up a profit-share scheme in a bid to stop more managers quitting. Bennett is reckoned to have been recruited by Marlborough fund managers and Neptune has now appointed a headhunter to find a replacement. The company lost European managers Barry […]


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