William Ladenburg, a senior director at Close Brothers Asset Management, has departed for boutique Sparrows Capital.
Ladenburg, who was at Close Brothers for more than five years, had worked as a private client director and was previously an investment associate at WH Ireland.
Joining Sparrows Capital as a director, Ladenburg has been tasked with helping to grow the business.
‘I am looking to get out there and spread the message,’ he said. ‘My role is split between looking after clients and business development.’
At present, Sparrows Capital looks after six clients and has circa £150 million in assets under management.
Ladenburg is looking to expand the firm’s range of clients to include ‘quasi-institutional clients, trusts, charities and ultra-high-net-worth individuals with investable assets upwards of £5 million’ through promoting the firm’s factor-based investment process.
A Close Brothers spokesperson said Ladenburg’s role had been taken on by the existing team and additional hires made at the beginning of the year.