Creechurch Capital, the Douglas-based boutique discretionary fund management firm, has been acquired by the Nayyar Group.
This new chapter in the life of Creechurch aims to bring a new scope and vision to the business, starting with the hiring of Chairman and Finance Director Chris Hutton MBE ACA, Jim Dolan FCSI, Chartered Wealth Manager and Director, who both join Mary Barber FCCA on the Board of Creechurch.
Nayyar Group have a wealth of experience and expertise, and a determination to drive the business forward. Members of the Nayyar family are also shareholders of UK firm, Brookfield Partners INTL Limited, which owns multi award winning investment management firm, FACET.
Jim Dolan has more than 25 years’ experience working in the City of London during a successful career as an investment manager, including working closely with FACET as a Non-Executive Director. He will manage the Creechurch investment portfolios. Chris Hutton comes from a diverse background of sectors bringing a fresh perspective to the business.
John Greenwood also remains with the business, along with all existing staff providing continuity to the existing clients as well as expanding the assets under management through new client acquisition.
Jim Dolan said: “For me it’s very simple, it’s all about demonstrating absolute returns to those investors that have previously put their trust in Creechurch and I see this as a fantastic opportunity to do exactly that, along with continuing to grow assets under management.”
Jaya Nayyar, a member of the family, said that while Creechurch and FACET are entirely separate businesses, the aim would be to replicate the success of FACET at the newly acquired Isle of Man business. She added: “Creechurch is a good name in the discretionary fund management industry and an excellent fit for our business. We look forward to building its success further.”
The Nayyar family founded and own the Nayyar Group, which is a leading specialist in various services including property management and development, land development, distressed assets and retail services. The Group’s objective with all of its ventures is to deliver successful development in a professional manner combined with the highest levels of commitment. FACET is a firm of investment and fund managers which has been helping clients navigate complex financial markets since 1979 and takes great pride in delivering absolute returns to its investors while maintaining a low to medium risk on investments.