Directors and staff at UK-based wealth management firm Investment Quorum have completed the management buyout of the firm. The buyout was led by director of private clients Petronella West, CIO Peter Lowman and wealth manager Nicholas Rolf.
The management buyout makes nearly all the staff the company’s shareholders.
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By GlobalDataThe move also led to the departure of the firm’s CEO Lee Robertson, who founded the company with West 18 years ago. Robertson has now been replaced with West.
Robertson will continue to offer strategic consultancy services to the company. He also intends to launch a new business later this year.
“I have been privileged to serve our clients, many of whom have been with us since the outset or for many years. I am very proud that those I have appointed and led have grown in capability and expertise during my time as CEO making Investment Quorum into one of the most recognised and respected private client wealth boutiques in the UK,” he stated.
Additionally, Jeremy Sharman has been appointed as the new chairman of Investment Quorum while Rolf will serve as the director of private clients.
“I am also delighted that the nearly all of our staff are now part owners of Investment Quorum, securing its long-term future as a strong independent business. We have a very talented team of experts across financial planning and discretionary fund management,” West noted.
