Close Brothers chief investment officer Robert Alster (pictured) has left the firm alongside head of bespoke Giles Marshall as part of a strategic restructure.
The company said in a statement that “these changes come as CBAM embarks on a new phase of strategic development”.
Close Brother CEO Eddy Reynolds added: “Since the beginning of 2024 we have been looking at how we can best organise our two mutually supportive propositions – wealth planning and bespoke investment management – ensuring we have cost effective management and an absolute focus on excellent outcomes for clients. Hence this restructure. Our mission is to be the best place in the UK for wealth professionals and their clients.”
The firm said the next stage of its strategic restructure is to “focus on embedding existing bespoke teams and the selective hiring of bespoke investment managers”.
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Alster was CIO of Close Brothers for four years, but has been with the firm since 2014 when he joined as head of research. The funds team will now be taken over by head of wealth planning John Edmeads, who has been at Close Brothers since 2017.
Marshall became head of bespoke in 2019 but has been at the firm for 19 years. Reynolds will take on Marshall’s responsibilities with support from chief commercial officer Nathanael Pinder.
Reynolds thanked Alster and Marshall for their “dedication and significant contributions to CBAM throughout their tenure”.
“Robert’s investment insights and focused leadership has been a hallmark of CBAM,” he added. “Giles’ work as an ExCo member has been exemplary. I wish them both well for the future.”
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