People moves
� Shervin Mellegard,
Samuel Palmer and
Neil Jeffries
RBC Wealth Management
has three new arrivals
at its London-based UK
onshore business. Shervin
Mellegard has joined as
managing director for the
UK team, having more
than 20 years’ experience
in the financial services
industry with roles at
Merrill Lynch and Barclays
Wealth. Mellegard is
joined by Samuel Palmer,
director, and Neil Jeffries,
wealth manager. Palmer,
previously at UBS AG,
will build out RBC’s value
proposition for UK-based
family offices, while
Jeffries, previously at UBS
AG and Morgan Stanley,
will ensure the delivery
of integrated capabilities
to the bank’s new HNWI
domestic onshore client
base. The new recruits
will work with Philip
Harris, head of UK
domestic, who himself
was hired in March to
spearhead a push into the
UK market.
� Jon Moulton
Jon Moulton has returned
following his resignation
from Alchemy Partners in
September 2009. Better
Capital is his new public
vehicle, named after the
claim he made in his
resignation letter to
Alchemy Partners that he
“would do it again – but
better”. He has set up a
quoted vehicle, looking to
raise between £100m and
£200m, as the sole limited
partner into a fund. The
funds raised will buy into
turnaround companies in
the UK and Ireland only
where Moulton expects to
see a reasonable number
of deals.
� David Jervis
Bank of America Merrill
Lynch has promoted
David Jervis to head of
Europe, the Middle East
and Africa (EMEA). Jervis
originally joined Merrill
Lynch 16 years ago, and
most recently was head of
the bank’s senior
relationship management
group for global banking
and markets in EMEA. In
his new role, he will be
responsible for leading the
bank’s team of financial
advisers in the regions.
� John Gieve
GLG Partners LP has
appointed Sir John Gieve,
former deputy governor
of the Bank of England,
to be senior adviser.
Gieve will be responsible
for providing strategic
advice to GLG on macroeconomic
and wider
policy issues as they
Expertly cautious
M&G Cautious Multi Asset Fund
impact on the financial
services sector and the
regulatory environment.
He spent 20 years at HM
Treasury culminating in
three years at the Bank
of England where he
was deputy governor
and an ex officio
member of the Monetary
Policy Committee.
� Mike Gitlin
T Rowe Price Group has
promoted Mike Gitlin
from global head of
trading to director of the
firm’s fixed income
division, which manages
nearly $100bn in assets.
Gitlin joined T Rowe
Price in 2007 and has
more than 16 years of
global capital markets
experience, including
assignments in Hong
Kong and Singapore.
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NEWS ROUND-UP
Charity share
class for Iveagh
Iveagh Private Investment
House, the Guinness
family office, has
launched a new share
class for its Wealth Fund
to enable charities to
invest in the fund at a
reduced charge. As part
of a long-term partnership
with the National
Council for Voluntary
Organisations (NCVO),
the share class will be
branded the “NCVO share
class” and will be aimed
primarily at UK charities.
Cazenove buys
Thornhill
Cazenove Capital
Management has acquired
discretionary Thornhill
Holdings, adding an
estimated £600m of
assets managed on
behalf of clients
throughout the UK.
For Financial Advisers only. Not for onward distribution. No other persons should rely on any information contained in this document. Source of figures: Morningstar, Inc. as at
30.10.09, bid to bid with net income reinvested, based on Sterling Class A Shares IMA Cautious Managed Sector. David Jane has managed the fund since 16.02.07. Rating as at 31.10.09
and should not be taken as a recommendation. This Financial Promotion is issued by M&G Securities Limited which is authorised and regulated by the Financial Services Authority
and provides investment products. The registered office is Laurence Pountney Hill, London EC4R 0HH. Registered in England No. 90776. JAN 10 / 27989
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