Waverton has hired a business development manager to expand its presence in Scotland and Northern Ireland.
Derek McLay (pictured) will promote Waverton’s dedicated adviser offering and £1bn MPS solution in the region. He will report into head of intermediary sales Mark Barrington and be based in Waverton’s Scottish offices.
His appointment follows Waverton’s acquisition of Scottish-based Cornerstone Asset Management earlier this year. The £500m wealth planner, which has since been rebranded as Waverton Wealth, came with 1,000 clients, predominantly in Edinburgh and Glasgow.
Earlier this month the DFM hired Marco Malagoni from Cazenove Capital to become its head of wealth planning.
McLay joins from Fundamental Asset Management, where he was also a Scotland-based business development manager. Prior to this he managed relationships for Cornelian Asset Managers, Standard Life Investments and BNY Mellon Investment Management.
Barrington said: “It’s great to have Derek join the team. Not only does he know the market in Scotland and Northern Ireland extremely well, but also the broader industry too, and so is ideally placed to promote our excellent range of adviser solutions, including our managed portfolio service.”
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