The former head of UBS Wealth Management's UK and Ireland wholesale business, Steve Hutton, has joined financial technology and investment platform group True Potential as head of strategic acquisitions.
Hutton (pictured) joined UBS in 2012 from Zurich Intermediary Group, where he was northern head of distribution and platform proposition, and was tasked with spearheading the firm's drive into the third party discretionary market.
Prior to Zurich, Hutton oversaw Fidelity International's IFA sales team. He has also worked at Scottish Widows Investment Partnership (SWIP) and Invesco Perpetual Investment Management.
In his new role Hutton will assist in the development and implementation of True Potential's growth strategies, and build on the firm's adviser partnerships by overseeing acquisition and succession planning.
According to the firm's most recently published figures, True Potential's annual turnover hit £99m in the year ended December 2017, up from £69m the previous year, as assets on its investment platform swelled to £7.5bn. At present, 20% of UK financial advisers use the firm's technology.
In 2016, UBS Asset Management worked alongside True Potential to launch a multi-asset fund range, which Hutton worked on, according to the firm's website.
The firm also partners with BMO Global Asset Management, Allianz Global Investors, Goldman Sachs Asset Management, Schroders, SEI, 7IM, Columbia Threadneedle, Close Brothers and HSBC on similar projects.
Hutton said: "I'm looking forward to being fully engaged with True Potential. I know the business well having worked in partnership with it for over three years.
"I am now able to assist this very exciting company with its plans to continue delivering excellence to its clients and adviser firms."
Senior partner at True Potential Mark Henderson added the firm expects Hutton's appointment to contribute to "another year of strong growth throughout 2018, with several new developments in the pipeline," including "a major upgrade" to its investment platform.
He explained: "The new version, built entirely in-house, incorporates the latest blockchain technology, affording us greater control and adding greater clarity to our supply chain and customer value chain."