Quilter Cheviot has appointed Caroline Simmons as its new chief investment officer.
Simmons joins from UBS Global Wealth Management, where she has been chief investment officer of its UK wealth-management business since 2020.
She worked for UBS for 20 years in various roles, including as a fund and then equity analyst, an equity strategist and more recently as deputy head of its UK investment office prior to becoming CIO (UK).
As CIO of Quilter Cheviot, Simmons will be responsible for the firm’s investment process, as well as the day-to-day management of the equity, fund and fixed-interest research teams.
She will join the executive committee and report to chief executive Andrew McGlone.
The announcement comes following the recent retirement of chief investment officer Duncan Gwyther and the upcoming retirement of chief investment strategist Alan McIntosh.
The pair step down after a combined 53 years of service at Quilter Cheviot and its predecessor businesses.
McIntosh remains with the business until the end of March to allow for a detailed handover to Simmons.
Quilter Cheviot chief executive Andrew McGlone said: “I’m delighted that Caroline will be joining Quilter Cheviot.
“She is a highly respected investment-focused leader and inherits one of the most established research teams in our industry who I have no doubt will continue to excel under her stewardship.
“Caroline’s significant experience will bring a fresh perspective to our business and our investment process, which is at the very heart of the personal service we offer clients.
“It is also a time to reflect on the immense contribution Alan and Duncan have given to our business over the years. They have been integral in developing our investment process, as well as providing valuable insight and guidance as members of our executive team.”
Simmons added: “I am really excited to be joining Quilter Cheviot at a time when the business is adapting to the changing face of client needs in the UK and its other selected markets.
“Investment decisions play a crucial role in people’s financial plans so I am looking forward to working with colleagues in Quilter Cheviot’s highly experienced research, investment management and financial planning teams to implement the best ideas on behalf of clients.”
Simmons will join the business in March 2024.
