The firm has taken on Alex Montgomery, who was joint chief executive at rival wealth manager Tcam Asset Management, which managed more than £1 billion of assets for clients before it was acquired by 7IM in 2018. He left 7IM a year later.
The Edinburgh office will be James Hambro’s second regional office after former Aberdeen Standard manager Aidan Butler opened the first, in Leeds, last year.
Montgomery, who joins as a partner, said: “For me a key attraction of James Hambro & Partners is that it’s an independent partnership. The business doesn’t have to meet arbitrary targets set by an owner, so it focuses on the long term and doing what matters – delivering great service and performance.”
The firm expects to open its operation in the capital by April, and more hires are said to be in the pipeline.
Montgomery added: “We want to have the capacity to deliver all the firm’s services from the Edinburgh office, so that will mean recruiting experienced and capable financial planning and investment professionals and support staff.
“JH&P already has a number of Scottish clients, and Lord Balniel – a founding partner – is based in Fife, near St Andrews. That means we’re already sensitive to some of the subtle but important differences in law and taxation that affect individuals and charities here.
“Having a strong team in Scotland will augment the firm’s ability to serve Scottish clients. I know that for many of them, with the spectre of another referendum looming, there’s an appeal in having a wealth manager with a foot on both sides of the Border.”
James Hambro & Partners chief executive Andy Steel said: “Alex has great experience, impeccable connections and is an outstanding addition to the team.
“We’ve been looking to open an office in Scotland for some time, but this isn’t just about a good geographical opportunity. We’ve known each other professionally for a long time, and there’s a good cultural fit here – Alex shares the JH&P values.”