Investment Quorum's Petronella West becomes CEO after MBO: Robertson steps down

Staff and directors including West, CIO Peter Lowman and director of private clients Nicholas Rolf were part of the management buyout, which Lowman said had been "discussed for some time" as Robertson decided he wanted to pursue other opportunities. All staff at the firm have become shareholders.

Robertson set up Investment Quorum 18 years ago with West and said he has seen it grow from "a fee-biased IFA into a boutique wealth manager with over £250m assets under management".

"I have really enjoyed my time at Investment Quorum but I realised there are some other things I want to do before I finally make the decision to retire," Robertson told Investment Week.

"I am interested in education and visiting lecturing positions at universities.

"Investment Quorum is a good, stable business with a decent name. The timing is right for me to step back and concentrate on other bits and pieces."

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He will support the business in an advisory role to "avoid a cliff-edge departure for clients" and help the new management team settle in.

Lowman said there are no plans to overhaul or make any changes to the firm, it will be "business as usual".

"My role as CIO has not changed, the only thing that has changed for me is that I am now a major shareholder," he said.

Talking about working with Robertson for over 11 years he said:
"Lee decided he wanted to go and do something else so there was an opportunity for us to be a part of the business and participate in a meaningful MBO. I think we are happy on all parts.

"Lee and Petronella have built a business that has gone from strength to strength and we want to continue that growth.

"Lee has been an incredible ambassador and a fantastic CEO, I have thoroughly enjoyed working with him and I wish him every success."

A statement from West said: "We are incredibly grateful to Lee for his passion, drive and leadership over these past 18 years, and for agreeing to support our business into the future. We would also like to take this opportunity in wishing him every success in the variety of activities he intends to pursue.

"I am also delighted that the nearly all of our staff are now part owners of Investment Quorum, securing its long-term future as a strong independent business. We have a very talented team of experts across financial planning and discretionary fund management.

"Therefore, I am honored and delighted to have the opportunity to become the new CEO of one of the UK's most successful independent boutique wealth management firms".

Chairman Jeremy Sharman added: "I am delighted to have the opportunity to join such a talented group of people led by Petronella. I would like to pay tribute to Lee Robertson for his nurturing of such a strong team.

"Investment Quorum is clearly at the top of its game evidenced by the plethora of awards it has picked up over recent years. It also has a superb investment track record. I look forward to working with the whole team to continue providing a first-class service to all clients." 

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• Topics
• Advisory
• Wealth managers
• Investment Quorum
• Lee Robertson
• Petronella West
• MBO
• People Moves
• Peter Lowman