Quilter Cheviot has named William Reid as new head of its charities division.
In his new role, Reid will be responsible for the growth of some £1.3 billion of charity assets, belonging to 580 charities and representing 8% of the company’s overall funds under management.
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Reid has joined Quilter as a partner in 2006 and alongside managing portfolio for high net worth individuals and families.
Prior to this, he worked at Laing & Cruickshank, where he joined in 2002 and became associate director in 2003 and then as an investment director following the acquisition of the company by UBS.
Also, Reid has worked for Royal Navy from 1991 to 2001 including seven years in the Submarine Service and became the independent investment advisor to the Royal Navy and Royal Marines Charity in 2008. He is also a trustee of Peaslake School and Governor of Peaslake Free School.
Additionally, Reid will sit on Quilter Cheviot’s Collective Funds and International Stock Selection committees and is a key member of the charities & trust fund department.
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By GlobalDataReid said: "It is a complex area, but my personal commitment as a trustee and advisor to third sector organisations means that I can see the issues affecting the management of charities investment portfolios from both sides.
"Legacies and donations are notoriously unreliable and particularly vulnerable to the vagaries of the economy, making a robust investment portfolio key if endowed charities are to provide a sustainable public benefit, both now and in the future."
