Neptune ditches wealth arm plans; Butcher exits

Butcher joined to head up wealth arm last May

Neptune Investment Management has decided not to go ahead with plans to launch a wealth management arm, as Matt Butcher has left his role, a year after joining to head up the division.

Butcher joined Neptune in Q2 2016 to head up the new wealth management business, which the firm said would work with a "select group of high net worth individuals in London". He was joined by former Rathbones private client investment manager James Cliff as investment director, while Neptune's deputy managing director Richard Green and former head of distribution Charlie Parker were also involved in the set-up of the wealth business, named Equester Capital Management. Later, the group partnered with Raymond James Investment Services for the new launch. However, following the hire o...