A Scottish legal firm has spun off a significant new wealth management company, controlling funds worth a billion pounds.
Turcan Connell is changing the name of its three-year old asset management division to Tcam while gaining new investors.
The investment injection will help with new technology used to handle funds.
The current executives Haig Bathgate and Alex Montgomery will be joint chief executives.
The chairman will be Scots fund manager Stuart Mitchell, with chairman of the law partnership Douglas Connell as deputy chairman.
These include hedge fund manager Crispin Odey, Francois Simon, a former chief of an investment arm of Credit Agricole, and Robin Parbrook, of Schroders.
