Senior hire at “gold” UK wealth management firm

New UK wealth management firm that backs gold, Yellow Capital, has bolstered its senior management team by hiring an experienced new director

Anthony McGarel-Groves is a new director, subject to regulatory approval, head of portfolio services, and member of Yellow Capital Wealth Management’s investment committee.

McGarel-Groves will advise on asset allocation, and security selection against an expected volatile investment environment, the firm said.

As a non-executive director on Yellow Capital’s Investment Committee, McGarel-Groves will hold responsibility for its overall investment policy.

McGarel-Groves is a financial services industry heavyweight, with 30 years’ experience behind him. He was formerly a founding partner of long/short hedge fund Mark Capital LLP.

He held a similar role to his current one as investment strategy committee member at Hambros Fund Management. He was also assistant director there, with responsibility for institutional and private client portfolios.

McGarel-Groves has specialised in US equities, as head of those investments at Investec Guinness Flight Global Asset Management and at the Kuwait Investment Office.

The new role will tap into his expertise in advising private clients and managing their portfolios, with recently established Yellow Capital seeking high net worth clients valued at over £1m.

Yellow Capital was set up in September 2010. As part of its investment philosophy, the firm advocates an exposure to gold within clients’ portfolios.

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