Until recently the pair worked at Morningstar OBSR, where Toogood was investment services director and Hutchison was head of investment consultancy.
City Financial said that the appointments were the latest stage in the group’s expansion of its multi-asset offering, which has grown in recognition that the needs of advisors and institutions are evolving post-RDR.
Toogood and Hutchinson will join Mark Harris, head of multi-asset and responsible for City Financial’s six multi-asset funds with combined assets under management of £136m, and Tim Short, who recently joined the group as chief Risk officer. This new team will work closely with City Financial’s equity, fixed income and alternatives investment groups.
Prior to joining Morningstar, Toogood had been chief investment officer at Forsyth Partners and instrumental in the creation of the Forsyth-OBSR Fund Ratings Service in 2002. Hutchinson has previously held roles at two private banking organisations in portfolio management and fund research. At Morningstar she was responsible for managing a range of services including guided fund lists, model portfolios and governance.
Andrew Williams, chief executive officer, City Financial, says: “We recognise that the future of fund management firms like our own lies in proving a complete, solutions based package of services, including fund research and consulting.”