Canaccord Wealth’s co-CIO, Richard Champion, will step down from the business after a 41-year career in financial services.
Fellow co-CIO Thomas Becket, who has been at the firm for four years following its acquisition of Punter Southall Wealth in 2022, will become the sole CIO.
Champion (pictured left) had spent 11 years at Canaccord Wealth, having moved from Sanlam Private Investments in 2015. During his time at Canaccord Wealth, he saw the business grow its assets under management from £11bn to £40bn.
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David Esfandi, CEO of Canaccord Wealth, said: “Richard has made an exceptional contribution to Canaccord Wealth. I had the privilege of hiring him and have seen first-hand the impact he has had on our business, our people and our clients.
“Today, we have a robust centralised investment process that has helped establish one of the leading managed portfolio service propositions in the UK market. Tom Becket will build on the strong foundations he and Richard have created, supported by a highly experienced investment leadership team, ensuring we continue to deliver excellent outcomes for clients and advisers.”
Champion added it has “been a privilege” to spend the past 11 years at Canaccord Wealth “and work alongside so many talented colleagues”.
“I am incredibly proud of what we have achieved together and the business we have built.”
Following Champion’s departure, Canaccord Wealth has hired Guy Thornewill (pictured right) as direct equities director, who will join the chief investment office as a member of the leadership team.
He previously worked as a portfolio manager and head of global research at Pie Funds, where he managed global and European strategies for seven years. He has also held previous roles at Ruffer, AllianceBernstein, Jefferies and Threadneedle Asset Management (now Columbia Threadneedle).
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In his new role at Canaccord Wealth, Thornewill will work closely alongside CIO Becket as well as the wider team, to assist with portfolio construction, investment decision-making and global equity research.
Commenting on Thornewill’s hire, Becket said: “We are delighted to welcome Guy to the CIO team at Canaccord Wealth. He brings with him a great track record in equity investing, deep market expertise and a genuine passion for identifying long term investment opportunities for clients.
“As our business continues to grow, strengthening our direct equities capability is an important part of our investment strategy.”
Thornewill added he is “delighted” to become part of “such a highly-regarded investment team”.
“The firm has built a strong reputation for investment excellence and client service, and I look forward to working with colleagues across the CIO team to further strengthen our capabilities and help deliver successful outcomes for clients over the long term,” he said.
