Tilney Bestinvest aims to grow its newly formed charities investment management business following its merger.
The team currently runs about £600m for UK charities and is spread across the country. It is a combination of mandates from Tilney, which has been a steward for charity money since 1836, and Bestinvest.
The new charities division is led by managing director Paul Frame, who is supported by fellow managing directors Duncan Brookes and John Mulhurn.
Regional heads Caroline Connell, Robin Adamson, Jason Haworth and Stephen McClymont are spread across the offices.
Division head Frame says charity’s investment needs can be complex and often require ethical considerations to be kept in mind, rather than solely performance.
“We believe that consistent investment performance for charity clients requires a robust, structured and disciplined investment process that is built on in-house expertise,” he explains.
“Given both the size and experience of our team, we believe we are exceptionally well-placed to deliver this and therefore see charities as a strategically important area for Tilney Bestinvest over the coming years.”
The firm has enlisted environmental social and governance investment research consultancy Eiris to help with ethical screening.
Both Tilney, Deutsche Bank’s wealth management business, and Bestinvest were acquired by private equity firm Permira this year. They were merged in August.