The founder and chairman of Myddleton Croft Investment Managers has announced his retirement.
David Cowell, who founded the Leeds-based boutique investment managers Myddleton Croft in 2006, has called time after 50 years in wealth management. He will continue as non-executive chairman.
Myddleton Croft achieved a turnover of £1m in 2016 and reached its target milestone of £100m of Funds Under Management last November.
Cowell said: “To have enjoyed 50 years in business is quite an achievement and I am very proud of the business the team and I have built up. The firm has a strong reputation based on the solid performance of our discretionary portfolios and we have successfully established trusted relationships with both advisers and individuals who use our investment services.
“Working alongside managing director Julie Jones and investment director Patrick Toes, we have made great progress over the last few years, growing to a nine-strong team; moving to larger offices, and investing in new management systems. With such a strong management team at the helm, I am confident that Myddleton Croft will continue to flourish, and I would like to thank everyone who has played a part in our success to date.”
He added: “Having started working in financial services in the 1960s, I have seen huge changes in the sector with the growing regulatory requirements which we are now facing, such as MiFID II, being among the most challenging. However, one thing I have learnt is that a solid, well-run business is able to weather changing market conditions, investing and adapting to ensure that it maintains high standards of service for its clients.”
(picture shows David Cowell, foreground, with left to right, Patrick Toes, Carolyn Black and Julie Jones)