Turcan Connell Asset Management (Tcam), the investment management and financial planning arm of Turcan Connell, has announced a significant external investment as well as restructuring of its management,
The business, which will now trade under the name Tcam, will be owned by a partnership of three main shareholder groups.
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The first group consists of Haig Bathgate and Alex Montgomery, the firm’s two executive directors who will now assume the role of joint chief executives.
The second group includes a group of Turcan Connell Partners and former Partners, including current chairman, Douglas Connell, and new external individual investors.
Stuart Mitchell, managing partner of SW Mitchell Capital will become chairman of the Tcam board with Connell, co-founder of the law firm, will become deputy chairman, the company said.
In addition, Turcan Connell partners Robin Fulton and Ian Clark will continue as non-executive, while ex-Aberdeen Asset Management executive Hugh Little as well as former GLG Partners manager Bart Turtelboom will also join the board.
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By GlobalDataThe third group comprises other investors including Crispin Odey, François Simon and Robin Parbrook, as well as Turcan Connell Partners and former Partners such as Simon Mackintosh and Robert Turcan.
The new structure at Tcam is slated to be in place in November following approval from regulators.
Turcan Connell CEO Alex Montgomery said: "The new investment will provide access to capital resources that will enable us to invest in cutting edge technology in order to enhance the service we provide to clients.
"Tcam will also benefit from the expertise and experience of the new board members and investors who share Tcam’s enthusiasm and drive. Tcam will continue to work closely with Turcan Connell’s legal and tax teams ensuring absolute continuity in the joined-up services delivered to new and long-standing clients of both businesses."
