Close Brothers Asset Management (CBAM) has poached Andrew Hess from Rathbones to take on the role of managing director of its high net worth business, while multi-family office Stonehage Fleming has appointed Schroders’ Glenn Murphy as chief operating officer.
Hess (pictured), who was most recently an investment director at Rathbones, has over 30 years’ experience managing funds for private clients and will be a part of CBAM’s bespoke investment management service for wealthy individuals based out of London.
Martin Andrew, chief executive of CBAM, said 2018 represented a period of growth for the bespoke investment service with the expansion of the team and the opening of a West End office, where Hess will be based.
Last year, Hugh Adlington, Tim Eliot-Cohen and Oliver Harvey were appointed to the London office and Andrew Mackintosh-Walker and John Henderson joined the Scotland team.
Schroders man joins family office
Meanwhile, Murphy, who joined Stonehage from Schroders in November 2018, was most recently the technology, operations and treasury lead within its wealth management arm and has over 20 years’ commercial experience. Prior to this, he was the chief information officer at London & Capital.
He has also worked in lead functions for Cazenove Capital and Rathbones.
In the newly-created role role, Murphy will be responsible for setting the strategy and improving processes for operations and technology platforms at the family office.
Murphy will report to Graham Wainer, chief executive officer and head of investments.
