Three non-execs take 30% stake in Husselbee’s North

North Investment Partners has appointed three non-executive directors to its board as it seeks to strengthen its business ahead of RDR.

The three new non-execs are Alex Catto, a non-exec at Neptune since 2002, Parmenion Capital Management chairman Andrew Martin Smith and Tim Weller, chief executive of Incisive Media and chairman of E-Trader Group.

Weller has taken on the role of non-executive chairman at the group.

The trio of non-execs now own 30% of the discretionary investment house's shares, with the remaining 70% of North held equally by founders John Husselbee and Rebecca Murphy.

"RDR is putting serious pressure on financial intermediary businesses of all sizes and North is committed to delivering best-fit investment solutions that will support the growth and development of our clients' businesses in this environment," said CIO Husselbee.