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Corporate governance

Handelsbanken Wealth Management and Heartwood Investment Management are trading names of Heartwood Wealth Management Ltd ('Heartwood') which is part of the Handelsbanken Group.

The UK Stewardship Code

The UK Stewardship Code (the "Code") is published by the Financial Reporting Council (FRC), the UK body responsible for promoting high quality corporate governance. The Code sets out good practice standards for institutional investors, such as investment managers, for their dealings with the UK-listed companies in which they invest. The FRC recognises that not all parts of the Code are relevant to all institutional investors and that small institutions (such as Heartwood Investment Management) may judge that some aspects are disproportionate to their business.

Please click here to view Heartwood's policy which sets out our commitment to the Code and how we have applied its seven principles.

Further to the implementation of the Shareholders Rights Directive II in the UK from Monday 10th June 2019, Handelsbanken Wealth Management is currently considering whether any changes need to be made to this policy. 

Whistleblowing Policy

Please click here to view Heartwood's policy.

Pillar 3 Disclosures

It is a regulatory requirement that these documents are made available on an annual basis. They contain disclosure requirements regarding our risk management information and procedures.

To access Heartwood Wealth Management’s Pillar 3 please email Governance@heartwoodgroup.co.uk

Modern Slavery Act

Heartwood is part of the Handelsbanken Group and therefore supports, and is included within, the Group statement which can be located on the Handelsbanken website here.

In addition to the main statement:

Suppliers/Counterparties - Heartwood has a Counterparty Due Diligence Policy and procedures in place which help to ensure that we only do business with selected counterparties after careful consideration in order to mitigate against potential reputation, regulatory and legal risks and protect both Heartwood and our clients.  The Group requirements are incorporated into this policy, as appropriate to our business.

Heartwood exercises a risk-based approach to due diligence which drives the level of scrutiny required for different counterparties – the higher we deem their risk to Heartwood and our clients, the broader the due diligence needs to be.

Employee remuneration arrangements

Heartwood takes a long term view of its staff’s employment. We reward our members of staff through salary and standard benefits such as pension contributions and medical insurance schemes. Because Heartwood has a low tolerance of risk, we consider that fixed compensation contributes to healthy operations. As well as identifying, monitoring, analysing and reporting material risks of the compensation system, our compensation policy and the compensation system are reviewed at least annually by the Head of Compliance, which will include consideration that the provisions of FCA’s Remuneration Code are being adhered to.

Company structure

The Board of Heartwood Wealth Management Ltd is responsible for the high level supervision of the current and future regulated activities of Heartwood Investment Management and Handelsbanken Wealth Management.

The directors of the Heartwood Wealth Management Ltd Board are:

Tracey Davidson (Chairman)

Peter McCree (Executive Director and Chief Operating Officer, Handelsbanken Wealth & Heartwood)

Michael Broom (Non-Executive Director)

Following the departure of Simon Dixon a search process is underway for a new Chief Executive. Until that time, Tracey Davidson (Chair), will resume the role of CEO and Michael Broom (NED) will resume the role of Chairman. 

Within our governance structure the day to day management of Heartwood Investment Management and Handelsbanken Wealth Management are delegated to the Management Group, the members of which are:

Graham Bishop (Chief Investment Officer)

Alex Spreckley (Head of Wealth Management)

Peter McCree (Executive Director and Chief Operating Officer, Handelsbanken Wealth & Heartwood)

Haydn Aird (Head of Third Party Distribution)

Dominic Fielding (Head of Compliance & Risk)

Lucy Jackson (Head of HR)

Kanene Nwodika (Head of Finance)

Matt Hollier (Head of Product)

Graham Bishop - Chief Investment Officer

Graham joined Heartwood in 2017 and is currently Chief Investment Officer. He is responsible for strategy and asset allocation, and also manages the Balanced investment strategy.

Prior to joining Heartwood, Graham was the Global Macro Strategist at Citi, where he was responsible for the bank’s global asset allocation views and global macro strategy trade ideas.

Earlier in his career, Graham held roles at  Exane BNP Paribas, the Royal Bank of Scotland and Cazenove Capital Management.

Graham studied Economics at the University of Exeter and is a CFA charterholder.

Alex Spreckley - Head of Wealth Management

Alex joined in 2012 with his career at Handelsbanken progressing through specialist technical, sales and client advisory roles into leadership as Area Manager for London & South West in 2017 and now Head of Wealth Management in 2020.

With over 19 years industry experience as a Financial Adviser, Alex has attained the gold standard status of Chartered Wealth Manager. He is also a Fellow by examination of the Chartered Institute for Securities and Investment (FCSI), a Fellow by examination of the Personal Finance Society (FPFS) and also a CERTIFIED FINANCIAL PLANNER™ professional.

Alex was named as one of the PAM Top 40 Under 40 in 2018. This initiative recognises, introduces and promotes the rising stars of the private client wealth management world in the UK and UK Crown Dependencies.

Peter McCree - Chief Operating Officer

Peter started his working career in the Operations team of Kleinwort Benson Investment Management in 1987 and transferred to the London office in 1991 where he worked with the Global settlements team.

In 1998 Peter joined Dresdner RCM Global Investors and took management responsibility for the dealing support and settlement teams. He focused on the migration of institutional clients from Kleinwort Benson, establishing new procedures and developing the operational support systems.

He joined Heartwood in 2001 in Operations and as COO is now responsible for Operations, IT, Change and Middle Office. He is also Executive Director of the Heartwood Wealth Management Board. Peter has the FCA significant influence function for client money and assets (CF10a).

Haydn Aird - Head of Third Party Distribution

Haydn joined Heartwood as Head of Third Party Distribution in 2017. Prior to this, he worked for Handelsbanken Wealth Management where he was Area Manager for the Private Clients team in the North of UK.

Haydn started his career at Handelsbanken in 2007. Before joining Handelsbanken, he worked for 16 years at HSBC in a variety of roles in Corporate Banking, Operations, Credit and Risk and Branch Management.

Haydn has a BA Hons degree in Business Studies. He is an Associate of the Chartered Institute Bankers and holds the Diploma in Financial Planning.

Dominic Fielding - Head of Compliance & Risk

Dominic joined Heartwood in 2016 as Head of Compliance, and is now Head of Compliance & Risk. He has worked in Financial Services for over 20 years and has extensive investment and private client regulatory experience.

Before joining Heartwood, Dominic was Chief Risk Officer at Duncan Lawrie Asset Management. Before that, he was appointed Internal Audit Director at Friends Life Group (now Aviva), and as Director of Regulatory Practice at PriceWaterhouseCoopers, where he worked with clients across financial services. Prior to this, he worked in supervision at the regulator (London) and dispute resolution at the  Financial Ombudsman Service. Dominic is also the Founding Director of Binnacle Management Consulting.

Dominic holds a Bachelors and Masters degree in Law from the University of London.

Lucy Jackson - Head of HR

Lucy joined Heartwood in 2016 as an HR Business Partner and is currently Head of HR.  She has over ten years of industry experience and has extensive knowledge of employment law, change management, recruitment strategy, SMCR and FCA remuneration code. Lucy is an advocate of the Women in Finance Charter.

Lucy holds a BSc, an MA in Strategic HR Management and is a Chartered Fellow of the Chartered Institute of Personnel Development.

 

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