Seasoned industry professional and PFS member John Lester has been hired by City-based investment consulting firm Square Mile as its new business development director.

He joins from Investec Asset Management where he was sales director of strategic partnerships for six years.

At Square Mile, he will be responsible for developing the consulting business and managed portfolio services with financial advisers, life companies and platforms. He will also help manage client relationships.

Richard Romer-Lee, Square Mile’s managing director, said: “We are thrilled to welcome John to the team as his extensive experience and energy will contribute significantly to our next phase of growth.”

Mr Lester has worked in financial services for over 24 years. He started his career in banking before running sales teams in life assurance and asset management firms including Neptune Investment Management and HSBC Asset Management. He has worked with financial advisers and life companies in the UK, Europe, the Middle East, Far East and Southern Africa.

He holds the Certificate in Financial Planning (CII) and is a member of the Personal Finance Society and the Institute of Directors.

Square Mile employs 29 staff including 17 investment professionals.