London-headquartered Sanlam UK is opening its first private office, also based in London, with Penny Lovell named as the new office CEO set to lead this part of the business.
Lovell (pictured) will join Sanlam in October this year, and will be leading the push to target high net worth clients with assets above £1m (€1.1m). She will report to the group CEO Jonathan Polin, who has been working for the firm since the end of 2015.
Lovell joins Sanlam from Close Brothers Asset Management, where she worked as head of private client services for five years.
Prior to this, Lovell worked for Rothschild Wealth Management as the firm’s managing director. Formerly, she held various senior positions at Fleming Family & Partners, and Coutts.
Sanlam’s group CEO Jonathan Polin, said: “I have spent the last two years reorganising and unifying the business to support the delivery of a vastly enhanced, client-focused investment and service proposition. The forthcoming launch of a private office extends our service in the UK and bolsters our ability to offer tailored solutions for an increasing complex and bespoke set of needs from high net worth clients. Penny’s expertise and experience in delivering a first-class high net worth and Private Office proposition will be central to us cementing our position as one of the UK’s leading wealth managers.”