Moneyfarm is the latest investment firm to be raided by Close Brothers Asset Management as part of its high net worth individual push with James Ballinger set to join the firm as practice director.
Ballinger (pictured) will be part of the London advice team. A press release said he would be enhancing the relationships between advisers and investment managers in CBAM’s wealth management team.
At Moneyfarm, he was head of advisory and helped run the UK commercial operation. He previously worked at Saunderson House as a financial planner and associate director. He is a fellow of the Personal Finance Society and Chartered Management Institute.
The appointment comes as CBAM’s AUM at its Mayfair office surpasses £1bn. It has also opened a new office in Chester.
CBAM has been aggressively expanding its high net worth business for over a year.
Rathbones has been a particular target of its raids with Helen Gerrard and Nick Jackson hired in July, while fellow veteran Tim West joined the high net worth team in January.
A year before that CBAM installed Rathbones investment director Andrew Hess as a managing director in its West End office and appointed Christopher Godfrey-Faussett, also from Rathbones, as managing director based in Scotland.
In addition to recruiting senior staffers from Rathbones it has also bulked out its team with hires from Arbuthnot Latham and Brewin Dolphin.
Sarah Keltie joined from law firm Taylor Wessing to become senior investment business development director in January.
