Close Brothers Asset Management (CBAM) has hired Tim Eliot-Cohen from Rathbones to be a managing director in its High Net Worth business.

Mr Eliot-Cohen spent 16 years at Rathbones looking after HNW private clients and leading a team of private client managers. Close Brothers AM says he will drive further expansion of CBAM by opening a new office in the West End of London this year, strengthening its network of nine offices across the UK.

He will also oversee the investment management of multi-asset portfolios for HNW private clients, reporting to chief investment officer, Nancy Curtin, as well as leading expansion of the new West End office.

Martin Andrew, chief executive of Close Brothers Asset Management, said: “We are thrilled that Tim is joining CBAM to help lead an exciting new phase in our growth.  His extensive investment and client experience, as well as his leadership skills and sheer enthusiasm, are terrific attributes to bring to our team as we look to expand our award-winning investment offering.”

Close Brothers Asset Management provides advice, investment management and self-directed services to private clients and professional advisers. It has offices in London, Bristol, Manchester, Gatwick, Newcastle, Midlands, Northwich, Edinburgh and Glasgow. It is part of merchant banking and wealth management group Close Brothers which employs more than 2,900 people, mainly in the UK, and is a FTSE 250 company.