Cavaye, who leaves at the end of this month, said he plans to return to his native Scotland to pursue new opportunities.
Jeffree, a former fund of funds manager at New Star Asset Management, has been with C. Hoare since November 2009, joining initially as head of fund selection.
Cavaye joined C. Hoare & Co in August 2000 initially as a member of the investment strategy team, before becoming CIO.
This followed a 10-year career in Martin Currie’s Edinburgh office as a member of its North American and UK teams.
In September, the private bank – the oldest in the UK with roots back to 1672 – lost investment strategist Michael Bell, who moved to JP Morgan Asset Management as a global market strategies for EMEA.
