Wealth manager Tacit IM confirmed on Thursday it had hired Stephens as its new head of strategic relationships.
The appointment comes just months after he was hired by another boutique DFM, Saunderson House, to develop its discretionary fund management proposition across new and existing markets.
Before his brief stint at Saunderson House, Stephens was head of investment specialists at Close Brothers for seven years where he was responsible for managing adviser investment relationships.
Operating under the Raymond James brand until roughly two years ago, Tacit IM was launched in 2010 by the senior ex-Deutsche Bank Private Wealth Management team Raj Basra, Roy Swain and Kypros Charalambous.
Currently, the firm’s AUM is around the £450m mark.
All three founders were well-acquainted with Stephens who is himself a former Deutsche Bank man.
“We know Leigh well from our time working together at Deutsche,” said Swain.
“He is well respected by many advisers because he is a qualified investment manager in his own right and also understands the challenges they face.
“He’ll be a valuable addition to the team at a point where a growing number of advisers are approaching us interested in working together.”
Stephens said he was excited to join a firm that he believes has “enormous potential”.
“In a world of me-too offerings, Tacit is a boutique that delivers something different to advisers populating discretionary management panels – its portfolios are focused purely on meeting the needs of UK investors and the team invest with focus and conviction,” he said.
“Tacit are also able to offer consultancy, supporting those adviser firms that have a strong element of in-house investment management but want to draw on outside expertise and experience.”
