Crux Asset Management is to shift from its existing Mayfair offices to Pall Mall, a regulatory filing with Companies House reveals.
The offices are in a redeveloped office at 48 Pall Mall, a 10-minute walk from the asset manager’s existing location at 5 Stratton Street nearby Green Park (pictured above with fund managers James Milne and Richard Pease).
A spokesperson from Crux told Portfolio Adviser they would move on 3 September. “The new premises will provide additional office space as the company continues to grow.”
The firm has been on a hiring spree over the last year resulting in staff costs doubling, according to its latest annual financial statements. The company had previously signaled its intention to move and stated this would incur a substantial costs.
In the period since the results, UK equities manager Richard Penny has joined the firm from Legal & General Investment Management. However, this month the firm revealed its Global fund would transfer to Tyndall Investment Management along with manager Richard Scope.
Rathbones exited Mayfair for the City in February 2017, although subdued demand for central London property meant their offices remained empty until June at substantial cost to the business. Gam will make a similar move joining Rathbones at the same offices at 8 Finsbury Circus in Q1 2019.
Schroders and Cazenove will also move in Q3 this year.
According to the website for 48 Pall Mall, the offices were redeveloped in 2016 and are a close distance to high end hotels, restaurants and art dealers, as well as 11 members’ clubs. The limestone building was originally constructed in the 1890s.
