About Turcan Connell Asset Management
Turcan Connell Asset Management, the wealth management arm of the Turcan Connell Group, brings together a range of services to help nurture and grow assets and organizations' goals. Turcan Connell Asset Management delivers expert investment management and sophisticated financial planning advice through an exceptional and personalised service.
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Latest Turcan Connell Asset Management News
Oct 16, 2015
Turcan Connell Asset Management brings in new investors and revamps board Simon Mackintosh, chairman of Turcan Connell with Douglas Connell, now deputy chairman of Tcam. Picture: Sandy Young. 0 comments Turcan Connell’s £1 billion wealth management arm has brought in a host of new investors as part of what has been described as a multi-million pound deal. The change of structure at the business also means it will no longer be wholly owned by the law firm. Instead Turcan Connell Asset Management executive directors Alex Montgomery and Haig Bathgate are being given an equity stake. Loading article content Along with that well-known financial services names such as Martin Currie’s Willie Watt, activist investor Crispin Odey and Schroders fund manager Robin Parbrook are part of a number of new external investors who will jointly own around half of the company. Current and existing law firm partners are keeping a stake with no one investor having more than 10 per cent of the business, which is being rebranded as Tcam. Some of the investment being brought in is likely to be put towards new technology. Mr Montgomery, chief executive, 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, which employs 60, has been operating as a wholly owned subsidiary of the law firm since 2012 and has around £1 billion of assets under management. Promoted stories Stuart Mitchell, managing partner of SW Mitchell Capital is to become chairman of the Tcam board with Douglas Connell, co-founder of the law firm, to be deputy chairman. Turcan Connell partners Robin Fulton and Ian Clark continue at non-executive directors in the wealth business and are joined by former Aberdeen Asset Management heavy hitter Hugh Little as well as former GLG Partners manager Bart Turtelboom. Mr Connell said discussions on the future of the wealth arm had been going on for around two years. He said: “Businesses like this are often very attractive to private equity houses and consolidators in the financial services sector. “We were being approached by people but we wanted to have a long-term and stable situation for the business. “We are delighted with the outcome and the kind of people who have said they want to be involved.” Mr Connell confirmed the plans for Tcam are “entirely focused on growth” and he was personally pleased to have given a stake to the long serving Mr Bathgate and Mr Montgomery. He said: “This is the right moment for us to give them a direct equity involvement in the business. “It is great for the reputation of Tcam that some of these high profile people in the sector want to be involved and share the focus on building the business for the long term. “There is a big commitment to technological innovation in this business and this will give us the opportunity to take it forward. Having new board members absolutely steeped in the industry is also extremely helpful to us.” It is not thought Tcam is likely to launch new funds in the near future. Simon Mackintosh, chairman of Turcan Connell law firm, said both businesses would continue to share premises and work closely together. He said: “As a law firm we are enthusiastically looking forward to a continuing relationship with Tcam.” Share article The new structure at Tcam is expected to be in place next month after approval from regulators. Turcan Connell has offices in Edinburgh, Glasgow and London. Promoted Stories
Turcan Connell Asset Management Frequently Asked Questions (FAQ)
Where is Turcan Connell Asset Management's headquarters?
Turcan Connell Asset Management's headquarters is located at Princes Exchange, Edinburgh.
What is Turcan Connell Asset Management's latest funding round?
Turcan Connell Asset Management's latest funding round is Unattributed.
Who are the investors of Turcan Connell Asset Management?
Investors of Turcan Connell Asset Management include Alex Montgomery, Haig Bathgate and Douglas Connell.
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