Thomas Miller Investment appoints New Chief Investment Officer
05/08/2009Thomas Miller Investment (TMI) has appointed Mike Balfour as Chief Investment Officer.
Thomas Miller Investment, which has a total of 50 staff across offices in London, the Isle of Man and Edinburgh, originally served only the mutual insurance and captive insurance companies managed by the Thomas Miller Group, but in the last five years TMI has provided innovative independent investment solutions for businesses from outside the Thomas Miller Group.
Paul Neagle, TMI's Chief Executive, said: "Mike's appointment is key as we continue to move towards being seen as an established participant in the mainstream asset management sector, rather than simply as an in-house operation.
"We were already earning a reputation for success in the institutional investment marketplace, and our acquisition of the business of Singer & Friedlander Investment Manager (IOM) Ltd last year enabled us to establish a firm foothold in the private wealth sector. We currently have approximately US $3.8bn of assets under management, of which around half is generated from external clients and half from the in-house business, and it is our intention to become a leading player in the sector.
"Our investment management business has grown significantly over the last five years and Mikes experience adds to an already well established management team and investment process. His arrival will help us take the business to the next level."
Mr Balfour was Chief Investment Officer at Edinburgh Fund Managers until 2001, and then Chief Executive of Glasgow Investment Managers, and became a high-profile member of the industry.
He said: "I am very excited about joining Thomas Miller Investment. I did not want to return to the industry until I had found the right job, and this is it. TMI is a firm with an excellent reputation. The organisation has grown over the past 30 years' as a firm devoted to working side by side with clients, and there is enormous potential for continuing to take that out into the wider marketplace."
Mr Balfour replaces Brian Sheppard who is due to retire from the Thomas Miller Group in 2010 after more than 30 years' service in London, Bermuda and Isle of Man.
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