Ashcourt Rowan’s managing director of asset management division David Esfandi, has left the firm after just 21 months and will be joining his family office, Dwyer Asset Management, according to Portfolio Adviser.
Esfandi said that he has joined the firm to build an institutional investment proposition, grow the asset management division and help drive its restructuring programme.
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Though the exact breakdown of final take over is yet to be decided, the roles and responsibilities of Esfandi will be shared between David Palmer as business director, Toni Meadows as chief investment officer and Harry Burnham as investment director.
Prior to joining Ashcourt Rowan, Esfandi most recently served as a director at Deutsche Bank for over 10 years and has started his career at Goldman Sachs.
Esfandi added that the firm had moved into the next stage of its development and was on a firm foundation having completed its first major transaction; it was time to move on.
Dwyer Asset Management specialises in the property and financial sectors for a select number of clients. Its corporate profile describes a highly active and flexible approach to asset management and its entrepreneurial culture enables it to react swiftly to changes in market sentiment.
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