Newly-created Whitman Asset Management has appointed Araminta Le Flufy as its new chief executive, subject to FCA approval.

Ms Le Flufy will oversee the launch of a new Private Client Investment Management division which will offer clients a traditional multi-asset portfolio management service.

She was previously head of smaller companies at Whitman Howard and is a shareholder in the asset manager's former parent company The Whitman Group.

In July Whitman Asset Management was divested by The Whitman Group. Along with a group of private investors, the management team of Whitman Asset Management bought out 100% of the equity to form an independent asset management firm.

The firm has two core activities; the private client investment management division which looks after investments for private clients and Financial Planners, investing on a global basis, and a fund management division which specialises in UK smaller company growth investing. The firm also manages directly-invested AIM portfolios.

Victoria Stevenson has also joined from Quilter Cheviot to manage the new private client division alongside Michael Pallett.

Ms LeFlufy said: "Given the economic turmoil caused by the Coronavirus pandemic and the market uncertainties this has created, we are hugely energised by the firm’s developments this year.

"The total support of all our clients and the confidence shown by our external investors partnering with us has been exceptional. The Private Client Investment Management business has been in our planning for several months and we are delighted to be onboarding Victoria and Michael who share our vision and enthusiasm about what we are building.

"We believe our clients’ smaller companies and AIM IHT portfolios are strongly positioned for the environment ahead and we confidently plan to expand this division underpinned by our experienced investment team led by Christopher Pease and Joshua Northrop.”