Canaccord Genuity Wealth Management (CGWM), a division of Canaccord Genuity Group, has hired Michel Perera as the new chief investment officer, replacing Nigel Cuming, who will be retiring from the role in May 2017.

The company said that Cuming will continue with the firm as a consultant for the next two years, based in the Jersey office.

Perera, who will be based in London, will be responsible for the central investment process focusing on asset allocation and stock selection.

He will also work to maximise the potential of the company’s proprietary stock screening tool Quest.

Prior to joining CGWM, Perera served at JP Morgan Private Bank, where he was the chief investment strategist for Europe, the Middle East and Africa (EMEA).

At JP Morgan, he was responsible for running investment strategy and overseeing tactical asset allocation decisions for discretionary portfolios within the region.

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CGWM CEO for the UK and Europe David Esfandi said: "Investment performance is right at the heart of everything we do for our clients.

"Michel's appointment will bring fresh ideas, extensive industry experience and knowledge that will be invaluable to clients and our business as we spearhead a new growth trajectory."