Close Brothers Asset Management (CBAM) has appointed Philip Young and Lucy Katzarova to support the expansion of its investment management service for high net worth clients. 

The firm says the expansion of this proposition has also led CBAM to open a new larger office this month in Mayfair. 
 
Philip Young joins the firm as managing director, as a “specialist in managing charity mandates” CBAM says his appointment “further enhances” its investment proposition for charities.

Mr Young has more than thirty years’ experience in managing portfolios for charities and private clients. 

He joined from Brewin Dolphin, where he worked as charity investment director from 2011.

Prior to his role at Brewin Dolphin, he managed investments at UBS, HSBC and Deutsche Asset Management.

He is a Fellow of the CISI.
 
Lucy Katzarova joins as investment manager, supporting the proposition for charities, and private clients.

She has a Diploma in wealth management from the CISI.

She previously worked as an assistant director at Brewin Dolphin and spent three years at UBS Wealth Management.
 
Both new recruits will be based out of a new office in 55 Grosvenor Street which, the firm says, “allows for further growth following a stream of senior hires in the last year as part of CBAM’s strategy to expand and develop its investment management service for high net worth clients”. 
 
Martin Andrew, chief executive of Close Brothers Asset Management, said: “We are firmly committed to growing our services for high net worth clients and these appointments are an important step along this path.

“Philip and Lucy bring extensive experience managing charity mandates and handling a range of private client needs, which will enhance the proposition we are able to offer our clients.  
 
“We are pleased with the growth and new hires that we have made in London and Edinburgh and we are delighted to open our new office in Mayfair which will be well received by clients and our own employees.”