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UK Asset Manager Takes On Top Team To Tackle International Market

by Philip Morton, InvestorsOffshore.com, London

14 May 2001


UK-based provider of investment management and financial planning services for private investors, Carr Sheppards Crosthwaite (CSC), is expanding its international activities. To this end, the entire top tier of the International Portfolio Management team from rival Gerrard has joined CSC, which is owned by South Africa's Investec Group, to spearhead the company's development overseas.

As well as the four senior portfolio managers who will join CSC this month, and back office staff already in place, a further three fund managers are on "gardening leave" in advance of joining during the next few months, said Bernard Kantor, managing director of the Investec Group. The team will be led by David Bulteel, one of the best-known international private client portfolio managers in London.

CSC intends to increase its international portfolio management division significantly. The core team will concentrate initially on the Middle East and Africa. Traditionally most of CSC’s international clients have been sterling-biased, with strong UK connections, but over the last eighteen months its relationship with Investec (which has owned CSC since 1997) has increased the flow of international introductions.

Mr Kantor said in a statement: 'Carr Sheppards Crosthwaite is now a fully fledged international portfolio manager with, I believe, as experienced a team of senior portfolio managers and analysts as exists in the City of London.' David Bulteel added: 'This is a fantastic opportunity for us. The Carr Sheppards Crosthwaite approach, a judicious blend of professional asset management and personal service, is exactly in line with our own thinking. They are committed to developing a significant international business, and we shall have some real influence on its growth and development.'

For its private investors, CSC provides a range of services to meet the requirements of clients, including discretionary portfolio management and unit and investment trust management. Chief Executive Fred Carr said: 'What we at Carr Sheppards Crosthwaite provide is careful investment management with the added benefit of specialised well thought out independent financial advice particularly in the areas of retirement planning and pensions.'

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