Quilter Cheviot has hired Caroline Simmons as its new chief investment officer, joining the business in March 2024.
Simmons joins from UBS Global Wealth Management, where she has been chief investment officer of its UK wealth management business since 2020. She has worked at 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. Simmons will join the executive committee and report to chief executive Andrew McGlone.
The announcement comes following the recent retirement of Duncan Gwyther, chief investment officer, and the upcoming retirement of Alan McIntosh, chief investment strategist, 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.
Andrew McGlone, chief executive at Quilter Cheviot, 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, where they have contributed considerably to the oversight and day-to-day running of Quilter Cheviot, always with their care for the business and our people and clients at the forefront of their minds.”
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.”
