People Moves: TMF Group, IQ-EQ, Pensions for Purpose, Martin Currie, Goodhart Partners, Jupiter AM

TMF Group

TMF Group, a provider of compliance and administrative services, has appointed Tim Houghton as its new global head of private wealth and family office (PWFO) services. 

He joined TMF Group in March 2019, as a member of the Private Clients team. In January 2022, he was appointed market head for the Channel Islands. 

In his new role as global services head, he will oversee TMF Group's strategy for international pensions, employee benefits and management incentive programmes (MIP). 

He will report to Daniel Max, TMF group's head of global solutions. 

James Coughlan will become the sole market head for the British Isles and Ireland (BII) market, reporting to Frank Welman, TMF Group's head of EMEA. 

Coughlan assumes responsibility for all aspects of the recently merged market, having demonstrated strong leadership during this process. 

This change will enable efficient decision-making that will drive growth in BII, now one of TMF Group's largest markets. 

Houghton will also work closely with Aynsley Vaughan, who has been instrumental in driving PWFO since 2021 and, more recently, the Global Entity Management (GEM) services, in the areas where GEM and PWFO overlap. 

Vaughan will continue as the global leader for the group's GEM services. 

Max said: "The Private Wealth and Family Office services remain a key focus for the group, tying together our services across multiple jurisdictions as we strive to offer global services to our clients. 

"Over the last few years, we have improved our client portfolio to better manage risk across all our key jurisdictions. I am delighted to have the opportunity to align Tim's expertise with an area of significant focus as we continue to invest in our PWFO services and the various related client services relevant to this group of customers." 

IQ-EQ 

Global investor services group IQ-EQ has appointed Brian McArthur-Muscroft as its new group chief financial officer. 

In this key senior leadership position, responsible for the financial wellbeing of IQ-EQ, he will join the firm's group management team and group supervisory board and will contribute to strategic decision-making.

Prior to joining IQ-EQ, McArthur-Muscroft was chief financial officer for financial intelligence innovator Qontigo. He was also formerly the group chief fnancial officer for Micro Focus International plc, a FTSE100 global infrastructure software company. 

He was CFO at Paysafe Group plc and led the business to a FTSE 250 listing on the LSE Main Market in December 2016, followed by the successful sale of the business to Blackstone and CVC in 2018. Before Paysafe, he was group finance director at Telecity Group plc where he led the successful IPO of the business. 

This news follows the announcement that IQ-EQ's current group CFO, Eric Fady, will retire at the end of 2023 after almost eight years of invaluable service to IQ-EQ. They will both work closely together throughout the remainder of the year to ensure a smooth and successful transition. 

IQ-EQ's group chief executive officer, Mark Pesco, said: "Eric has played a hugely significant role in our growth journey to date and will be sorely missed, so I'd like to take this opportunity to both welcome Brian on board and say a heartfelt thank-you to Eric for his incredible contribution over the past several years."

"The role of Group CFO is crucially important to any business and replacing someone of Eric's expertise and professional standing was not an insignificant task, so I'm delighted we've found such a worthy successor in Brian. He has excellent credentials to guide us through our next stage of profitable growth and I look forward to working closely with him as we prepare for this next phase and develop our new five-year strategic plan."

Pensions for Purpose

Pensions for Purpose, the independent membership organisation helping pension funds invest for impact, has named Richard Giles as senior director. 

He will use his experience in the pension sector to accelerate the growing use of impact investments. as well as delivering the risk-adjusted returns pension schemes require, impact investments impact on society in a positive way.

He currently serves as an advisory group member at Pensions for Purpose, where he guides the management team along with others from across the industry. In his new role, he will focus on bringing together pension scheme trustees, advisers and fund managers to build knowledge and understanding of the growing movement towards including impact considerations alongside risk and return. 

His appointment arrives at a critical juncture for the organisation, which aims to accelerate the number of pension funds and advisers who are part of the growing global movement towards impact investing.

He has a wide-range of  experience working for some of the largest pension schemes in the UK which includes running the Teachers' Pension Scheme and as Strategic Partnership Director for TPT Retirement Solutions.

His career also includes an 11-year stint at PwC, where he was a partner and head of pension advisory services in the North and over 17 years at Mercer.

He holds a number of trustee and non-executive director positions. He is a member of the board of trustees at United Utilities, where he also serves as chair of the investment committee and the vice chairman of the board of the Scottish Teachers Pension Scheme. 

Charlotte O'Leary, CEO for Pensions for Purpose said: "We are thrilled to welcome Richard to our team, a testament to the growing appeal of our mission and services. His expertise will be invaluable as we navigate an increasingly complex landscape of sustainable and impact investing and I am delighted Pensions for Purpose continues to be able to attract such high calibre individuals as Richard."

Richard Giles, senior director for Pensions for Purpose, said:: "I'm excited to join Pensions for Purpose at this crucial time. The world is changing quickly and it's important for UK pension schemes to reflect on this. 

"I believe there is a path to a just transition, improving the world we live in. UK pension schemes can play a big part in this. However, it has to be right for each scheme and their members. My aim is to collaborate with like-minded pension scheme trustees, advisers and fund managers to accelerate the adoption of impact investments that are the right choice for schemes. I look forward to driving change alongside Charlotte and Karen and the excellent team at Pension for Purpose."

Pensions for Purpose now have an established membership network of 350 organisations, including pension funds, consultants and asset managers, with 1,200 individuals represented within its forums. The majority of firms within its membership are globally recognised brands.

Martin Currie

Martin Currie has appointed current chief operating officer Jen Mair as its next chief executive officer, based in Edinburgh.
Mair, who joined the £16.7bn active equity specialist in 2015 and also served as a director of Martin Currie Investment Management, will assume a seat on the Martin Currie board. 

During her time at the firm, she led strategic change across the business while providing legal and governance advice to the global business. She joined Martin Currie in August 2015 as chief of staff and general counsel, and was promoted to COO in October 2021. 

Prior to that, she spent 11 years at Barclays' corporate finance and investment bank. Mair began her career as a finance lawyer at global law firm Allen & Overy, based in Paris. 

"It is a privilege to be appointed CEO of Martin Currie, and I am excited by the prospects for our high-quality investment capabilities that have stewardship at their core," Mair said. 

"I will continue to enhance our investment capabilities and culture, supporting our talented teams to deliver the outcomes our clients expect of us."

Mair has taken over from Julian Ide, who served as Martin Currie CEO for four years and will now transition into the newly created position of vice chair, EMEA for Franklin Templeton. 

Reporting to Jenny Johnson, president and CEO at Franklin Templeton, Ide will engage with senior decision makers at the largest institutions in the EMEA region to cultivate "mutually beneficial" long-term partnerships. 

"I am grateful for Julian's support over the years," she added. "Martin Currie, one of the world's oldest asset managers, has thrived under Julian's leadership, helping us attract and develop great talent to deliver for our clients and be the successful and future-facing global asset manager we are today."  

Ide added: "I am delighted Jen is taking over as CEO at this exciting time. I am grateful to everyone at Martin Currie for their support over the last five years and look forward to engaging with the firm in my role at Franklin Templeton."

Mair's COO responsibilities will be assumed by Stuart Davidson, chief finance officer and chief operating officer, as well as Sheena Smith, chief of staff and head of inclusion, diversity and equity. 

Goodhart Partners

Goodhart Partners has hired Gary Tuffield as a partner and member of the company's managing board, with responsibility for business development and client service.

Tuffield will also lead on identifying new investment teams and boutiques for Goodhart to partner with.

He departed Redwheel in March 2023, where, as global co-head of sales, he was responsible for growing the firm's assets under management and existing capabilities, as well as attracting new investment teams.

Prior to joining Redwheel in 2016, Gary spent 13 years at BNY Mellon, where he held positions across sales and distribution, ending his time there as UK head of intermediary distribution.

Alan Bartlett, CEO at Goodhart Partners, said: "I have known Gary for many years and have great respect for what he has achieved so far in his career. Gary has an exceptional grasp of the marketplace and the channels in which we operate. 

"His deep understanding of distribution networks and experience in working with investment teams will help us to add significant value for our existing and future investment partners."

Goodhart will be looking to "expand significantly in the coming years," Bartlett added, while Tuffield said he was "excited" to be working with the team at Goodhart. 

"The varied experience of the management team at Goodhart means it has a unique ability to empathise with the challenges facing boutique investment teams today," he added.

The aim is for Goodhart to be a "real added-value partner" for both clients and boutique investment teams, Tuffield said.
Goodhart recently added a new in-house investment team to its portfolio of businesses. The Dartmoor team offers a high conviction long only European smaller companies strategy that will launch shortly.

Jupiter Asset Management 

Jupiter Asset Management's head of global distribution Warren Tonkinson is set to leave the firm as part of a restructuring of the distribution team.

His departure follows the formation of the firm's new ‘client group', which will be co-headed by Max Guenzl, currently head of distribution strategy, and Mathias Mueller, head of international sales, who will report directly to CEO Matthew Beesley.

A spokesperson said: "This new structure reflects the ongoing convergence of wholesale and institutional client demands as they increasingly think beyond ‘products' and seek alternative methods of accessing our alpha generating capabilities.

"Following these changes, Warren Tonkinson and the Jupiter management have concluded that his role is no longer needed and that he will be leaving the company after 11 years at Jupiter and Merian."

Tonkinson joined Jupiter's distribution team as a managing director in July 2020, following the firm's acquisition of Merian Global Investors, where he had worked as global head of distribution since July 2012. 

He was promoted to global head of distribution at Jupiter in June 2022, shortly before former CEO Andrew Formica tendered his resignation. Prior to Merian, he spent nearly a decade as head of strategic alliances at UBS Global Asset Management.