UK-headquartered wealth manager London & Capital has appointed Guy McGlashan to the top job.
McGlashan joined the firm in 2015 as partner and chief operating officer. He was previously at Coutts & Co, where he was chief operating officer of Coutts Private Office.
He will continue to work with Iain Tait, partner and head of the private investment office, and Pau Morilla-Giner, partner and chief investment officer, with all three expanding their roles in managing the business.
The announcement comes after the death of co-founder and managing director Daniel Freedman in October.
Bringing forward the plan
The firm said that these changes had been planned earlier this year by the board as part of its continued strategy to grow the business, meet the incoming requirements of senior managers and certification regime (SMCR) regulations and enable Freedman to take a step back from his day-to-day role.
But these plans have been implemented sooner than expected.
London & Capital said it is targeting growth in its assets under management to £5bn ($6.49bn, €5.86bn) from £3bn.
This will be delivered through focusing on “core services and expanding existing teams”, as well as “developing new propositions focused on specialist high net worth advice areas”.
Building on the foundations
“London & Capital is an unconventional firm in the world of wealth management today, founded on the principle of partnership between its people and its clients,” McGlashan said.
“This is an ethos built by Daniel and something that will continue to run through the core of everything we do.
“It is under sad circumstances that I am taking on this role, but I look forward to working with the management team to build on our long and proud history in the years ahead.”
Tait added: “We have ambitious plans in place for the coming years to cement London & Capital’s position as a firm that is widely respected as the go-to for high net worth individuals.
“Delivering this ambition has been underway for some time and I am delighted to be working with Guy and Pau in continuing this work.”
