IFA and wealth manager Vintage has appointed a new CEO to head up its wealth management arm.

The firm has hired John Morton, who will be in charge of Vintage Wealth Management and will serve as executive director of Vintage Asset Management, Vintage Corporate and Vintage Health.

The firm says Mr Morton’s principal remit is “to help oversee the continuing significant growth and development of the individual businesses within the group”.
 
Last year he established Broad Street Asset Management and will be integrating the fledgling business into Vintage with a number of those currently working there joining the group.

In 2009 he established European Wealth which, in five years, acquired six businesses in five different countries and was floated on the AIM market of the London Stock Exchange when funds under management reached £1.8bn.
 
Prior to that, Mr Morton’s City career encompassed Abtrust (subsequently Aberdeen Asset Management), latterly as a director of Abtrust Fund Managers and establishing an investment management and Financial Planning business for a firm of solicitors which demerged to become Ashcourt Holdings.

Over the following four years, six acquisitions were completed, and the business was floated on AIM.

On its subsequent acquisition, Mr Morton remained as group CEO and continued to build the business with a further 11 acquisitions in three years.
 
Geoffrey Hartnell and Robert Stein, co-founders and senior executive directors across the Vintage group of companies, released a statement which read: “The Vintage group has grown significantly over the last few years and the time had come to make some critical decisions to ensure we can continue to develop the individual businesses, whilst also maintaining high quality client service in an ever-evolving industry.
 
“Apart from the recent additional office space acquired in Central and North London to help accommodate physical growth, the diversity of the group made it a challenge defining the senior executive support that was required to take us forward over the medium term.

“It was clear that we needed to appoint a CEO with an exceptional pedigree, combined with a successful track record of overseeing significant change and managing a rapidly growing suite of businesses. In John we have found that expertise and commitment, allowing him to take full advantage of the firm foundation that has been built.
 
“We welcome John and are confident that, together with our existing team and new colleagues from Broad Street, we are now well positioned to deliver what we do best – adding value to our clients, professional introducers and long-standing joint venture partnerships, whilst positioning the group for an outstanding future.”
 
Mr Morton added: “This is an exceptional opportunity for myself and everyone involved across the four core businesses of the Vintage group of companies to build on the results that have been achieved over the last 15 years, delivering  highly respected work for our clients, both individuals and institutional.
 
“My initial focus will be to assess the systems, procedures and protocols observed by the business and then to improve the efficiency and profitability of the group together with growing it to the next level.

“It is never easy to pass on the baton of leading a personally established enterprise such as this, but I very much look forward to delivering on the high expectations and trust placed in me by Geoff and Robert.”