Tcam introduced with new investors
Changes at top for Turcan Connell Asset Management
The company will be owned by a partnership of three main shareholder groups.
The first comprises the two executive directors Alex Montgomery and Haig Bathgate who will spearhead the operation as joint chief executives.
A second shareholder group is made up of partners and former partners, including current chairman, Douglas Connell (pictured). New external individual investors make up the third group.
Mr Montgomery said: “Tcam has seen considerable growth since it incorporated as a wholly owned subsidiary in 2012. The new investment will provide access to capital resources that will enable us to invest further 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.”
Stuart Mitchell will become chairman. Douglas Connell will become deputy chairman. Partners Robin Fulton and Ian Clark continue as non-executive directors.
Hugh Little will also join the board along with Bart Turtelboom who previously served on the investment advisory committee.
The new shareholders share a supportive, long-term view of Tcam.
Additional incoming investors include, amongst others, respected industry heavyweights Crispin Odey, François Simon and Robin Parbrook as well as Turcan Connell partners including Simon Mackintosh, the firm’s chairman and former partners including Robert Turcan and Douglas Connell.
Mr Bathgate said: “This is a defining step in the development of Tcam. Our successes to date will allow us to continue with tradition, however the injection of new, experienced, and credible investors will allow us to push forward in developing a reinvigorated approach for our clients.
“I have been fortunate enough to play a role in getting Tcam this far, and I will continue to invest my time and effort in to growing the business further.”
The new structure is expected to come into effect in November, subject to regulatory approval.