Most recently, Davies had been managing director of Kreston Isle of Man, which was created by the merger of two Manx trust companies in 2009.
Gaywood, who has been with Momentum since 2008, assumes the role of group chairman, a new position.
In a statement, Momentum said Davies and Gaywood’s appointments reflected the company’s continued rapid growth.
As reported, Craig Cheyne was lured away from Royal Skandia in August to become head of sales at Momentum, also a new position.
At Momentum, Davies will be responsible for leading the company’s continued expansion into new markets and territories, including the addition of a new operation in Gibraltar in the early part of this year, the company said.
Prior to joining Kreston he had been involved in a number of major fiduciary service acquisitions and mergers in the offshore sector, including the acquisition of Ernst & Young's trust company in the Isle of Man, which he had headed up at that point, by Anglo Irish Trust, and the subsequent sale of this business for a significant premium.
In other news at Momentum, John Batty, group intermediary partnership director, has been named to its Isle of Man board.
