Wealth Management Yearly Review 2024

How has the UK wealth industry coped?

Based on previous experience, markets have bounced back quickly following a crisis and so any downward trends in business performance have been short-lived. However, this is far from the case currently and the recovery has been far slower than before.

This is placing great pressure on UK wealth firms as core revenue streams have stalled, organic asset growth has been tough, and costs continue to surge.

Join Compeer at our Yearly Review conference in June to find out all the latest results from the most in-depth survey of business performance benchmarking for the UK wealth industry.

Also, hear from a variety of guest speakers, including PIMFA, and a panel of CEO’s and Senior Executives from UK wealth firms in what is sure to be an engaging and thought provoking conference.

We very much hope you and your colleagues can join us.




Event Information

14:30 – 15:00           Networking

15:00 – 15:05           Master of Ceremonies – Welcome & Introduction

15:05 – 15:20           William Cuss, Barings

15:20 – 15:35           Tariq Khan, Objectway

15:35 – 16:05           James Brown, Compeer

16:05 – 16:35           Simon Harrington, PIMFA

16:35 – 17:15           Wealth Management Panel Discussion

(John Reed – StreamBank PLC, David Kemp – GAM, Alistair Jex – Deutsche Bank, Dr Alexander Cassar – Objectway)

17:15 – 18:30           Networking

Bruce Weatherill, Master of Ceremonies

Bruce is a Chartered Accountant with over 35 years’ financial services industry experience around the world. He was a partner in PwC for 20 years and is now a non-executive director of Compeer as well as other companies.

James Brown – Director of Client Services, Compeer

James joined Compeer in October 2006 as an analyst following his graduation from The University of Warwick, where he studied Mathematics, Operational Research, Statistics and Economics.  Today he manages Compeer’s team of analysts. He has widely presented key trends in the UK Wealth Management Industry, with in-depth experience of providing statistical analysis of firms’ business performance. He regularly provides recommendations during presentations to Executive boards, and is actively involved in bespoke research projects.

William Cuss – Director, Small Cap Equities, Barings

William Cuss is an Investment Manager in the Small and Mid-Cap Equity Team and co-manager of the Barings Europe Select Strategy and the Barings International Small Cap Strategy. William has worked in the industry since 2014. Prior to joining the firm in 2016, he worked at Investec as an Equity Analyst focusing on the European consumer staples sector. Before that, William worked as an Auditor for Ernst & Young where he qualified as a Chartered Accountant. William holds a BA (Hons) in History and Politics from the University of Warwick and is a CFA Charterholder.

Tariq Khan – Business Development Director, Objectway

Tariq is responsible for Business Development and Account Management in the UK and Middle East. An accomplished professional with over 20 years experience of working with senior management and board level in financial services.  Tariq’s role involves understanding our clients’ business objectives and ensuring Objectway’s solutions can enable these as well as adding value to the clients’ future roadmap in a true partnership approach.

Simon Harrington – Head of Public Affairs, PIMFA

Simon is Head of Public Affairs at PIMFA having joined in November 2017. Simon owns PIMFA’s forward looking public policy works and leads engagement with political and regulatory engagement.  He has previously worked at the National Employment Savings Trust (NEST) and the Treasury in a variety of roles working on a number of issues including automatic enrolment, pension freedoms and the UK’s response to the financial crisis.

Simon has a strong interest in long term savings issues with a particular focus on overcoming behavioural barriers and the support structures that can be put in place in order to help and encourage a thriving savings culture in the UK.

David Kemp – UK CEO, Member of the Group Management Board of GAM Holding AG, and Global Head of Legal and Compliance, GAM

Prior to joining GAM in October 2018, David was General Counsel, Asset & Wealth Management at Schroders from 2012. He previously held a number of senior front office positions in investment banks including Head of Sales and Structuring. His experience includes credit, commodities, infrastructure, direct lending, non-performing loans, alternatives, quantitative strategies, supply chain finance and sharia compliant products dealing with institutions, corporate and high net worth clients across Asia, the Middle East, Europe and North America. David began his career as a solicitor with leading City law firm Simmons & Simmons. David holds a post-graduate diploma in law and legal practice course from the College of Law, Guildford, a master’s degree in Business Finance from Brunel University and a BA (Hons) in Philosophy from King’s College, University of London. He holds the FT NED Diploma.

Alistair Jex – Head of Investment Management UK, Deutsche Bank Private Bank

As Head of UK Investment Management and a member of the Private Bank’s leadership team, Alistair coordinates and delivers Deutsche Bank’s investment capabilities to clients in the UK. Alistair has more than 25 years of experience in a variety of roles ranging from investment research and strategy to portfolio management. Prior to joining Deutsche Bank in 2019, Alistair was the Head of the Advisory and Discretionary portfolio management teams at Coutts. Alistair is a CFA Charterholder and a fellow of the Charted Institute for Securities and Investment.

Dr Alexander Cassar – Chief Business Operations Officer, Objectway

Dr Alexander Cassar is responsible for the improvement of the Group’s Business Operations. He joined Objectway in 2019 and now he is an Objectway UK Board Member. He personally delivered a variety of change initiatives working at Director/CXO level in the wealth and asset management industry, supervising global large-scale transformation programmes in financial services. Sandro is a chartered accountant with Doctorate and Master’s Degrees in strategic information systems for wealth and asset management.

John Reed – Chairman, StreamBank PLC (formerly Chairman of EFG Private Bank)

John has forty six years experience in banking and financial services, with thirty one of these being at board level both in the UK and overseas. After spending his early career in a series of risk and marketing roles in retail and corporate banking with Midland Bank plc, John spent fourteen years with Hambros Bank Ltd in a variety of senior corporate, retail and private banking positions. Following Hambros’ acquisition by Société Générale, he first became Group Head of Risk and then Group Chief Operating Officer overseeing the strategic development and management of the Group’s worldwide operations.  John moved to Arbuthnot Latham & Co., Ltd as CEO where he was responsible for the restructuring, development, supervision and management of this private and merchant bank.

John subsequently moved on to a plural INED life whilst remaining on the board of Arbuthnot as a NED for some years. He also became an INED at several institutions including Tesco Bank, Société Générale’s online broker subsidiary Talos Securities Ltd (trading as Selftrade), The Bank of the Philippine Islands (Europe) plc, and several smaller commercial and financial services businesses. He was Chairman of CFD Broker ActivTrades PLC and of The National Motor Museum Trust (Beaulieu) in addition to being the Senior Independent Director at Ford Credit Europe Bank plc. Latterly he was Chairman of top three of UK private bank EFG Private Bank Ltd retiring in May 2024. He has chaired many Nominations, Remuneration, Risk and Audit Committees during his time as an independent Chair, SID and INED.

Today he is Chairman of startup retail bank StreamBank PLC which commenced trading in February 2023 and achieved run rate profitability within its first year of operating.

He was voted “Chairperson of the year 2024” in the WealthBriefing  European Awards

Research Partner


Other upcoming events

ESG 2024: Is client demand being served effectively?

Wednesday 25th September 2024
15.00 - 18.00

Demand for ESG services continues to rise among high net worth investors. Wealth management firms are adapting their services, but is this enough? Compeer will review the comparisons between what is being offered and what clients wish to receive in the ESG space.

How To Achieve Profitable Growth

Tuesday 1st October 2024
15.00 - 18.30

Compeer, who have benchmarked the UK wealth management industry for over 30 years, have highlighted that just under 40% of wealth management firms currently make a loss or return less than 10% net margin. The average net margin for the wealth management industry, as a whole for 2022, is 23%, which appears healthy.

This event will examine why so many firms are poorly performing and the practical measures they can take to improve their performance.

Operations 2024: The business case for transformation and change

Wednesday 16th October 2024
15.00 - 18.00

As firms continue to face challenges to achieve operational efficiency and scalability, Compeer will review the current state of play for the UK wealth industry and highlight where transformation is required.