Seven Investment Management has stuffed its C-suite with another Credit Suisse alumnus as one of its last remaining founders exits.
Duncan Walker has replaced 7IM’s CFO of 18 years Charles Sparrow who is set to depart the business next year. A filing from Companies House shows Walker joined the business officially on 21 October 2019.
Walker is a Credit Suisse veteran, holding a variety of roles at the investment bank, including CFO of private banking UK and Middle East Africa (MEA).
He joins 7IM from QInvest, the largest investment bank in Qatar, where he worked as the firm’s COO and CFO.
Walker has ‘proven ability to maximise growth’
Walker is the latest Credit Suisse alumnus to jump ship to the City-based wealth manager. Last October the firm roped in Martyn Surguy, head of investment at Credit Suisse UK, to become its CIO.
Surguy was the third person to take up the role in a year, replacing Ian Jensen-Humphreys who stepped in for Chris Darbyshire who left in tumultuous fashion at the end of 2017 following a disagreement over the “strategic direction” of the firm.
Walker will report to CEO Dean Proctor (pictured) and oversee 7IM’s finance, legal, compliance and risk departments.
“I’m delighted to welcome Duncan to 7IM, in what is an exciting time for the business following the completion of a strategic review,” Proctor told Portfolio Adviser.
“Duncan has a history of developing and leading highly successful teams; he has a proven ability to improve operations and maximise business growth.”
Senior departures
After Sparrow leaves in April 2020 7IM head of corporate development Justin Urquhart Stewart will be the last of the original seven founders left standing at the business.
Sparrow is the third founder out the door in the last year, following ex-CEO Tom Sheridan, who left the business in March, and head of strategy David Carroll in November 2018.
In addition to the trio of founders, 7IM has seen a string of senior departures this year following “a wide strategic review” as it beds down its merger with Scottish manager Tcam.
The DFM’s head of marketing Jane Routledge quietly left the business over the summer as Chris Phillips joined as the firm’s chief client officer.
Portfolio managers Damian Barry and Simon Moore exited earlier this year, as well as head of wealth management Alexander Rentoul Montgomery.
