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WHEN a business’s history dates back for more than 200 years, you could be forgiven for thinking that it might take a traditional, even old-fashioned, view of the world.
Then you consider how much the world has changed since 1823, when Cazenove Capital was formed, and realise that any business with such a wealth of heritage must also have evolved in line with rapidly altering client demands and global developments.
Cazenove Capital has achieved the delicate balance of moving with the times while upholding the traditional values which are fundamental to maintaining and developing client relationships.
Indeed, while the business – which, in 2013, was acquired by Schroders, a company which was established in 1804 – is global, the focus remains very much on those personal interactions.
“Most of our clients in the Channel Islands live locally but have a global reach,” explained Aileen Fahy, head of marketing in the Channel Islands. “While every client is unique, the one thing they all value is the relationship they have with our team. Whether we visit them at their residence, or they visit us, effective communication plays a vital role in ensuring they have access to the comprehensive support and expertise they require.”
Leading that expertise and service in the Island is client director and head of the Jersey office Euan Dangerfield, who has worked in the investment and wealth management sector for more than 25 years.
As well as leading the local team, Euan collaborates closely with trustees and private clients to understand their needs and create a bespoke solution for them.
“The fundamental desire among all our clients is to achieve a better return than inflation. Our job is not only to design an investment strategy to meet that objective, but also to make sure that our clients fully understand that our proposal is the most suitable for their risk appetite and investment time horizon,” he said. “Before recommending any investments, though, we sit down with our client to understand what they want to gain from the investment. Is this their retirement plan, for example, or are they safeguarding their children’s financial future?
“We have seen an increasing interest in private assets from our local clients who have been involved in the finance industry, who have an understanding of the asset class. We have spent time developing a proposition that achieves exposure to private equity and debt in a sensible and diversified way that can sit alongside a more traditional investment portfolio.”
Critically, say Euan and portfolio director Paul Battams, people’s values and ethics also play a huge role in wealth management.
“Sustainable investment is a rapidly growing area and a priority for many of our clients, particularly among the younger generation,” said Paul, who holds the CFA Society UK Certificate in ESG Investing and chairs the Channel Islands Corporate Responsibility Committee.
“Sustainability is so important for Cazenove Capital, who have been leading in this field for more than two decades. This commitment was recognised at the 2023 Jersey Finance Sustainability Awards when we won The Leadership in Sustainable Finance – Investment Management category.”
Paul adds. “Our aim is to invest in companies that demonstrate strong ESG practices, and which have a positive impact on society and the environment.
“This means following a rigorous investment approach in which ESG factors are analysed alongside traditional financial metrics.”
“As a result, our investment extends beyond just sustainability alone,” added Paul. “We research each company’s ESG practices before deciding whether to invest in them. Because of this additional research, we identify risks and opportunities which a purely finance- or return-based analysis may overlook.”
Keen to practise what it preaches, Cazenove Capital has recently moved into new offices at the International Finance Centre, a development known for its sustainability credentials.
“As well as enabling us to reduce our carbon footprint, the new offices provide a much nicer working environment for the team – which also includes compliance officer Fiona Connolly and marketing and sales support Donna Dwyer – as well as a welcoming space for clients,” said Aileen.
