Quilter Cheviot is on the hiring path at a time when parent company Quilter is reportedly cutting jobs to slash costs.
The DFM said Marshall Docherty would join its Edinburgh office from Abrdn, formerly Aberdeen Standard Investments, while Nick Lumb has been appointed to its new Leeds branch from Franklin Templeton.
Reporting to Quilter Cheviot managing director Michelle Andrews, Docherty and Lumb will focus on building strategic relationships with financial advisers and their clients, as well as providing support around regulatory and business challenges.
Both hires have been billed as part of the DFM’s “next phase of growth,” with further hires across the business expected.
“We are in a growth period and are focused on hiring highly qualified individuals with significant experience in the wealth management industry,” chief executive Andrew McGlone said, “and we believe Marshall and Nick will be great additions to the team.”
This is a stark contrast to parent company Quilter which is in the process of axing 400 jobs in a bid to shore up costs. In June it was reported that 200 employees had already been given the boot as part of a redundancy programme, which the firm claimed has been in place since it floated on the London Stock Exchange in 2018.
That same month Quilter dropped the legacy Old Mutual Wealth brand from its platform business, one of the areas of the business highlighted to be particularly at risk of further job cuts.
See also: Quilter to make hundreds redundant as it cuts costs
Prior to Quilter Cheviot, Docherty spent 15 years as an investment sales team manager for Abrdn where he looked after regional distribution across multiple channels.
Lumb looked after discretionary and advisory relationships across North England and Scotland for Franklin Templeton for six years and has also held regional sales roles at Blackrock and Aegon, according to his Linkedin profile.
