The six staff members (Trevor Sumption, Dennis Cooper, Edward Baring, Edward Franklin, Peter Cooper and Mark Jenkins) are moving from Ashcourt Rowan’s Savoy Investment Management subsidiary and have varying levels of experience and run various amounts of private client money, a spokesperson said.
Under the agreement Walker Cripps must reimburse any third party costs associated with the transaction and in return Ashcourt Rowan will facilitate the transfer of the individuals, as well as any clients that wish to move with them, with immediate effect.
John Polin, group CEO at Ashcourt Rowan, said: "As we continued to re-model the Ashcourt Rowan business I am pleased we have been able to come to this agreement with Walker Crips, whose business model is more aligned than ours to the way these particular individuals run money.
"Our focus is firmly on developing a modern and integrated wealth management proposition, which uses a more disciplined investment process and centralised operating platform to create a superior service and greater value for clients. The deal with Walker Crips helps with this.
