The founders of a respected London-based wealth management consultancy are departing, three years after the firm was acquired by Aon. What next?
Seb Dovey and Catherine Tillotson (pictured below), who co-founded Scorpio Partnership in 1998, are leaving the London-based firm with immediate effect.
Dovey is well-known as a public speaker and expert on private banking, while Tillotson has spearheaded Scorpio's research arm. Their firm is best known for a widely-cited annual ranking of private banks which UBS has topped in recent years, and for long urging private banks to listen to their clients' needs.
Part of Scorpio's success is that it did not grow out of the traditional finance or consulting industry: Dovey is a historian while Tillotson graduated from Oxford with a degree in English and Literature; both worked as journalists.
Aon Backing
They will be replaced by Mark Miles (pictured below), who runs the wealth management practice in Europe for parent Aon, which acquired Scorpio in 2014.
«Through Aon, we have been able to expand the reach, depth and breadth of Scorpio’s client engagement capability and had the pleasure of building an international team of talented professionals,» Dovey and Tillotson said in a statement.
«We wish them every success as they continue to evolve the business to support wealth management firms and other financial services providers in the years ahead.»
Cutting Ties
Miles told finews.com that Dovey and Tillotson will no longer hold a formal role beyond the third quarter, but that he hoped and planned to maintain a close relationship with the founders.
«There is a universal requirement in the wealth industry to generate an enhanced understanding of how the client experience impacts asset growth and the bottom line,» Miles said.
Scorpio has offices in Singapore and New York, beyond its London headquarters.
