Citisoft, the specialist investment management consulting firm, today announced the appointment of Neil Craddock as head of its Wealth Management practice, which provides focused services to wealth managers.
Citisoft has restructured its wealth management offering to address the specific needs of this tier of the industry, and help wealth managers respond to the operational and infrastructural changes required by new regulation and demands for greater efficiency.
With over 16 years' experience in the investment management industry, Neil has played key roles in long term strategic projects with wealth managers including Schroders Private Bank and Fleming Family & Partners. Prior to joining Citisoft in 2000, Neil held positions as business analyst and project manager at Foreign & Colonial Management, Coutts & Co. and Newton Investment Management. Neil will be responsible for heading Citisoft's specialist practice which will assist wealth managers in addressing the changes required as a result of competitive pressures, increasing regulation, industry consolidation, and the growing number of boutique wealth managers requiring scalable operational platforms to support business growth.
Neil Craddock, Head of the Wealth Management practice, comments, "I am delighted to have been appointed to head up Citisoft's practice. Acquisitions and the growth and proliferation of boutique wealth managers who are successfully attracting business away from the traditional wealth managers are fuelling demand for change within the industry. Not surprisingly, traditional wealth managers are also responding to the challenges of retaining and attracting business, often resulting in the need for significant infrastructural changes. The increasing regulatory burden imposed by initiatives such as the recently implemented EU Savings Tax Directive and the forthcoming MiFID directive are also major drivers for change. The establishment of this practice will enable us to provide a more formalised approach to servicing our wealth management clients."
Jonathan Clark, Founder and Executive Director, Citisoft, London, comments, "Neil's appointment as head of Citisoft's Wealth Management practice illustrates our commitment to providing strategic and implementation consulting services to our wealth management clients. Citisoft has worked with wealth managers since 1986, and by leveraging our 1,000 man years of investment management expertise, our dedicated offering will enable us to better meet the needs of this growing sector."