Wealth manager Cheviot invests in Liverpool

WEALTH  management firm Cheviot Asset Management has chosen Liverpool for its first office outside London.

The independent firm, which as around £3.5bn of assets under management, has opened an office 5 St Paul’s Square, Liverpool and hired eight people from the Liverpool office of Deutsche Bank Private Wealth Management.

Chief executive Michael Kerr-Dineen said: “Liverpool is a fantastic place to do business and we are extremely excited to be investing here.

“I believe our investment is a tremendous tribute to everyone involved in the regeneration of Liverpool in the last 10 years, who have created the right environment for investment. There us a real vibrancy here and in the wider region.”

Cheviot Asset Management was launched five years ago the recruitment of more than 90 investment professionals and support staff from UBS. It is chaired by Sir George Mathewson, former chairman of Royal Bank of Scotland.

Its new Liverpool team comprises: Simon Walker, Nigel Hibbert, Catherine Morris, Fraser Wilkinson, Mark Ewer, Myles Tunstall, Adrian Tonks and Jennifer Christian.

Mr Michael Kerr-Dineen, who used to run UBS Laing & Cruickshank, said the firm has chosen Liverpool because of its importance as an asset management centre.

He said: “The region is increasingly affluent so naturally will attract high profile investment businesses such as Cheviot who, we believe, offer a unique alternative to the growing corporatisation of traditional firms, for example Deutsche / Tilney; Investec / Rensburg and Morgan Stanley / Quilter. 

“Our growth plans for Liverpool are very ambitious. We are already experiencing fast organic growth, which I believe is aided by our partnership model which frees up staff from any conflicts of interest. This makes it an attractive proposition for staff and clients alike.”

Welcoming Cheviot to the city, Max Steinberg, chief executive of economic development agency Liverpool Vision, said the investment was “a vote of confidence” in the city’s wealth management sector.
 
“Cheviot’s location in St Paul’s Square is also a welcome endorsement of this new Grade A office space and underlines how vibrant and attractive Liverpool’s Commercial District is.”