London (hybrid) | £200,000–£280,000 base + bonus + co-investment | FCA-regulated
The Business
A privately owned, FCA-authorised investment management firm based in London managing circa £600m AUM across a concentrated multi-asset strategy with an emphasis on capital preservation and long-term real returns. The firm operates with a small, senior team — a flat governance structure, a closely engaged board and a client base of high-net-worth individuals, family offices and a small number of institutional accounts. The investment approach is fundamental, research-driven and conviction-weighted: the firm does not run model portfolios or follow index-relative mandates.
The incoming CIO will be the firm's most senior investment professional, reporting directly to the CEO and presenting quarterly to the board's investment committee. This is a hands-on role: the CIO both sets the investment strategy and is personally responsible for the firm's significant positions.
The Role
The Chief Investment Officer is responsible for the end-to-end investment process — from strategic asset allocation and manager or security selection through to risk monitoring, client reporting and the ongoing development of the investment framework. The role chairs the investment committee, which meets monthly and includes two independent NED members with investment backgrounds.
The CIO will work directly with the CEO on client relationship management for the firm's largest accounts, participating in annual investment reviews and responding to specific investment queries. The firm is at a stage where the CIO's personal credibility and communication quality will be a significant factor in client retention and growth — this is not a role for a CIO who manages from behind the investment committee.
Key Responsibilities
Investment strategy and portfolio management
- Own the strategic asset allocation framework and the tactical positioning decisions within it
- Lead security and manager selection across asset classes, including direct equity positions, fixed income, alternatives and cash management
- Chair the monthly investment committee, including agenda setting, investment papers and the ongoing development of the committee's governance framework
- Maintain the firm's investment risk framework — monitoring portfolio concentration, liquidity, currency exposure and drawdown against the firm's risk appetite statement
Client and regulatory
- Lead investment content for client reporting — quarterly investment letters, performance attribution and market commentary
- Present directly to the firm's key clients at annual investment reviews and on request
- Ensure the investment process meets the FCA's Consumer Duty requirements for fair value and that the firm's investment documentation accurately reflects the investment strategy being pursued
- Manage the investment-related elements of the firm's FCA authorisation, including maintaining the firm's investment permission boundaries
Leadership and governance
- Build and manage a small investment team — currently one portfolio analyst and one research associate — including mentoring, development planning and recruitment as the firm grows
- Contribute to the board's investment committee as a standing attendee, providing investment strategy updates and responding to governance challenge from NED members
- Work with the CEO on new product development and the evolution of the investment offering as the firm's client base and AUM grow
Candidate Profile
Investment track record
A demonstrable track record of multi-asset investment management spanning at least one full market cycle. The firm is looking for a CIO who has managed concentrated, conviction-weighted portfolios rather than diversified funds optimised for benchmark-relative performance. Evidence of clear personal investment decisions — not committee outputs — is essential. CFA qualification or equivalent is expected.
Client credibility
The ability to present investment strategy, performance and market outlook to sophisticated private clients and family offices in a way that is both intellectually rigorous and commercially engaging. The firm's clients are well-informed and expect direct access to the CIO — candidates who communicate primarily through written reports rather than direct client interaction will not fit the model.
Regulatory awareness
Practical understanding of operating as a senior investment professional within an FCA-authorised firm, including the Consumer Duty fair value framework, investment permission boundaries and the conduct standards applicable to a regulated investment environment. The CIO will not be required to hold a specific SMF designation at appointment but may be designated as an approved person as the firm's SMCR obligations develop.
Scale and stage fit
Comfortable operating as the most senior investment professional in a small, privately-owned firm — building process and governance rather than inheriting it, and contributing beyond the investment function to the commercial and strategic development of the business. Candidates from significantly larger investment organisations where the CIO role is primarily strategic and committee-based rather than hands-on may find the operating model of this firm a difficult adjustment.
Compensation
Base salary of £200,000–£280,000 depending on experience. Annual performance bonus of up to 40% of base, assessed against investment performance, client retention and contribution to the firm's commercial development. Co-investment rights — the ability to invest personal capital in the firm's main strategy at the firm's terms — are a component of the total package and are particularly attractive given the firm's track record. The firm does not offer traditional LTIP structures but is open to discussing a longer-term equity participation arrangement with the right candidate as part of a partnership-track conversation.
The role is London-based with the expectation of four days in the office per week. The firm operates from offices in Mayfair.
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