UHNW Wealth Managers
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Jeremy Knowland’s first foray into wealth management came on his 14th birthday, when his father gave him a selection of share tipster sheets, hoping to educate him on the markets. He sank his savings into an Australian gold mining company: ‘I chose it for all the wrong reasons — it was cheap, as in 12p, so I thought therefore it must be good. By absolute fluke, nine months later they thought they had found the largest gold seam ever and the 12p share price went to £1.50.’ A £240 investment thus gave him a return of £3,000. Fluke or not, it began a career that now sees Knowland head up Citi’s UHNW clients — a role with strong client focus. For instance, each banker has between 20 and 30 clients, and all had received a phone update by 11.30 the morning after the Brexit vote, he says. Knowland has had plenty of investment success of late: the discretionary team’s top-quartile performance ranking on one, three, five and ten-year horizons is particularly strong. He attributes these results to the bank’s strength owing to its size and responsiveness. ‘When you’re holding 10,000 clients and there’s a regulatory change, other organisations might have to down tools for 18 months to two years. The worst case scenario for us is that we might have to down tools for two weeks in order to deliver exactly what that change is. Our responsiveness is very rapid, a lot more so than people might give a large institution credit for.’

Jeremy Knowland