One of the city’s best-known business figures has become chairman of a new firm managing the fortunes of some of the region’s wealthiest families.
Steve Hollis, the former chairman of KPMG’s Midland practice, has joined Sorbus Partners, a partnership that aims to protect the wealth of a select few in an age of risky sovereign debt.
Mr Hollis, who is deputy chair of the Greater Birmingham and Solihull Local Enterprise Partnership, said he had been impressed with the innovative approach of the Staffordshire firm.
Sorbus was founded by Post columnist Max Thowless-Reeves and Tom Hall a year ago after the pair departed UBS Investment Bank and UBS Wealth Management.
Mr Hollis said: “The Sorbus Partners proposition is an exciting new model in managing wealth for high net worth individuals and families. Max and Tom exited brilliant careers in a market-leading bank to set up their business because they identified the growing dissatisfaction among private clients in how their wealth was being managed.”
The backing of Mr Hollis comes as a major boost to Sorbus, which was founded in 2012.
The pair left roles at different parts of UBS to set up the firm, which has has secured full authorisation from the FCA and signed up its first clients – although will always remain secretive about the nature of those clients. Partner Mr Thowless-Reeves said: “Steve’s appointment reinforces our ambition to deliver an alternative option to private banks in looking after the wealth management of families across the UK.”