London-based discretionary investment manager Quilter Cheviot is today opening a representative office in the Dubai International Financial Centre.
Quilter Cheviot, which was acquired by Old Mutual Wealth last year, adds its new Dubai base to a portfolio of existing outposts in Dublin and Jersey. In total it manages assets for clients of around £17.8bn.
Tim Childe, who is also head of the Jersey office, will oversee the Dubai operation, as Quilter Cheviot’s head of international, Old Mutual Wealth said in a statement. (Childe is pictured far right, with Keith Owen, left, and Mark Leale, centre.)
Mark Leale has taken on a new role as head of the Dubai office and principal representative, supported by senior regional representative Keith Owen. Between them they have more than 26 years combined experience in wealth management in the Middle East, Old Mutual said.
Leale has previously worked for such organisations as Lloyds Private Banking and Nedbank Private Wealth, in such jurisdictions as the Channel Islands, Isle of Man and Dubai.
Old Mutual International, which like Old Mutual Wealth is a part of Old Mutual plc, is also established provider in the Gulf, and also has an office in the DIFC.
Quilter Cheviot’s investment management services for international clients will continue to be delivered out of its Jersey base and will continue to be subject to UK and Channel Island regulations, Old Mutual Wealth said. Its business is primarily focused on structuring and managing bespoke discretionary portfolios for private clients, charities, trusts, pension funds and intermediaries.
The company now known as Quilter Cheviot traces its roots as far back as 1771, when a company named William Morris & Sons was founded in London as a partnership of some 150 stockbrokers. Over the subsequent years it took on a sequence of names, and at various stages parts of it were owned by such companies as Citibank, Morgan Stanley and the Bridgepoint private equity house. Bridgepoint agreed to sell it to Old Mutual Wealth in 2014, with the deal completing in February of 2015.