Group CEO Ian Gladman (pictured): 'We have ambitions to continue our growth in the coming years'.
Wealth manager Hurst Point Group is realigning its management structures under new committees as part of a re-organisation strategy for both its financial planning and investment management operations.
The group - which currently advises around £10bn in assets - confirmed yesterday (12 February) it has conducted a review of its structure in a bid to become more integrated.
While its financial planning business operates mostly under the Argentis brand, there is also its investment management business under the Hawksmoor brand.
Gore Browne CIO and co-founder retires after 19 years at the firm
"The board has concluded that the group should become more integrated, by removing layers and certain areas of duplication across the business which the board believe will bring the group closer to its clients and help support its future growth strategy," a statement read.
The group added it has been "reviewing its investment business" and wants to re-align the activities of its investment team as well as re-establish its underlying processes and philosophy.
As part of this, Ben Conway has been promoted to CIO for Hawksmoor, while maintaining his responsibilities for Hawksmoor Fund Managers. Alan Durrant has, in turn, been appointed to group investment director, a change from his former role as group managing director.
The management structure of Hurst Point will now come under new committees which will report into a group executive committee led by group chief executive (CEO) Ian Gladman and Hawksmoor Investment Management CEO Sarah Soar.
At the same time, managing director John White is set to leave the group, departing at the end of April.
In its statement, Hurst Point said White had made "a significant contribution to the creation of a single unified financial planning business".
Jim Wood-Smith to retire from Hawksmoor Investment Management
It stated: "This was agreed some time ago and his responsibilities as managing director will transfer to the group CEO and members of the Financial Planning Management Committee."
"John's decision to step away from the business, given the change in his personal priorities, makes sense, but we will miss him as a colleague and his wise counsel on the board," Gladman added.
He continued: "I believe the group re-organisation and personnel changes announced today will make our business fit for the next stage of our development.
"We have grown from a standing start to just under £10bn assets under advice/management in under four years with the support of Carlyle and other capital providers. We have ambitions to continue our growth in the coming years, although size itself is less important than serving our clients well."
