Turcan Connell Asset Management (Tcam), the investment management and financial planning arm of Turcan Connell, has, today, announced significant external investment as well as a new structure to the management of the business, which will now trade under the name Tcam.
(Simon Mackintosh, chairman of Turcan Connell; Douglas Connell, deputy chairman of Tcam)
The company will be owned by a partnership of three main shareholder groups: the two current executive directors Alex Montgomery and Haig Bathgate, who will spearhead the operation, a group of Turcan Connell Partners and former Partners, including current chairman, Douglas Connell, and new external individual investors.
Alex Montgomery, CEO, said: “Tcam has seen considerable growth since it incorporated as a wholly owned subsidiary in 2012. The new investment will provide access to capital resources that will enable us to invest in cutting edge technology in order to enhance the service we provide to clients. Tcam will also benefit from the expertise and experience of the new board members and investors who share Tcam’s enthusiasm and drive. Tcam will continue to work closely with Turcan Connell’s legal and tax teams ensuring absolute continuity in the joined-up services delivered to new and long-standing clients of both businesses.”
Stuart Mitchell, managing partner, S.W. Mitchell Capital, has accepted the invitation to become Chairman. Douglas Connell will become Deputy Chairman along with Turcan Connell Partners Robin Fulton and Ian Clark, who continue as non-executive directors. Hugh Little, formerly of Aberdeen Asset Management, will also join the board along with Bart Turtelboom who previously served on the Investment Advisory Committee. The new shareholders share a supportive, long term view of Tcam. Additional incoming investors include, amongst others, respected industry heavyweights Crispin Odey, François Simon and Robin Parbrook, as well as Turcan Connell Partners and former Partners such as Simon Mackintosh and Robert Turcan.
Simon Mackintosh, chairman, Turcan Connell concluded: “These are exciting times for both Turcan Connell and Tcam. The legal business remains the premier firm in the country for tax and succession, land and property, charities, and divorce law, and we now have the clear prospect of seeing our sibling business, Tcam, soar to even greater heights.”
The new structure is expected to come in to effect in November, subject to regulatory approval.