City High-Flyer In Sudden Exit From Signia

By Mark Kleinman, City Editor

A top City wealth management firm backed by the billionaire founder of Phones 4U has seen its chief executive quit suddenly in the wake of a string of executive departures.

Sky News understands that Nathalie Dauriac-Stoebe, a former Coutts partner who founded Signia Wealth in 2010, resigned earlier this week and left immediately.

Sources said there had been tensions between Ms Dauriac-Stoebe and senior colleagues despite the success of Signia, which manages £2.3bn on behalf of high net worth clients.

Signia was established with the backing of John Caudwell, the founder of Phones 4U, which collapsed into administration amid acrimonious circumstances earlier this year.

Mr Caudwell had had no involvement with the mobile phone retailer since selling it to private equity firms nearly a decade ago, instead committing his time and money to philanthropic ventures and private business interests such as Signia.

Ms Dauriac-Stoebe is widely regarded as one of the rising stars of the City, and is frequently named in lists of the financial sector's leading women executives.

Last year, the Daily Mail reported that she had hosted a private dinner attended by Nick Clegg, the Deputy Prime Minister, and some of Signia's clients.

It is unclear whether she will be prevented under the terms of her departure from launching or joining another wealth management business in the near future, although she remains a significant shareholder in Signia alongside Mr Caudwell.

Signia's other backers include Jon Moulton, the veteran investor, Mike Balfour, founder of the Fitness First chain, and Sir Keith Mills, the founder of the Air Miles and Nectar customer loyalty schemes and architect of London's bid to host the 2012 Olympic Games.

The departure of Ms Dauriac-Stoebe comes amid a shake-up in the regulation of the wealth management sector following the implementation of a framework called the Retail Distribution Review, which is designed to improve advice and transparency around client fees.

Meanwhile, the private banking arms of lenders such as Barclays and Royal Bank of Scotland, which owns Coutts, have been experiencing a significant period of upheaval amid broader restructuring of their parent companies.

A number of other senior executives have left Signia since its launch, including Rupert Robinson, a former Schroders executive who quit just over a year ago after less than 12 months in the job.

Signia is chaired by Paul Lester, an industrialist whose other roles include chairing the John Laing Infrastructure Fund, which recently made an audacious approach to buy parts of the struggling construction company Balfour Beatty.

A Signia spokeswoman declined to comment.

Anda sedang membaca artikel tentang

City High-Flyer In Sudden Exit From Signia

Dengan url

http://kaumkusaman.blogspot.com/2014/12/city-high-flyer-in-sudden-exit-from.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

City High-Flyer In Sudden Exit From Signia

namun jangan lupa untuk meletakkan link

City High-Flyer In Sudden Exit From Signia

sebagai sumbernya