Financial advisory firm Evelyn Partners has appointed Bahador Mahvelati – known as Bids – as its new COO and a member of the group executive committee subject to regulatory approval.
Mahvelati will join Evelyn Partners in March from PwC UK, where he is a strategy and operations partner.
He has also had hands-on operational roles at UBS Investment Bank and Natwest Group, as well as working for strategic consultancy firms.
The appointment comes as part of the Manchester-based firm’s plan to refocus exclusively on wealth management.
Mahvelati will lead cross-functional change programmes, client journey changes, tech, data, security, operations, M&A, strategy, and central services.
The appointment is part of a planned transition after COO Mayank Prakash decided to step down after the sale of Evelyn Partners’ professional services and fund solutions businesses.
Evelyn Partners say Mahvelati has worked closely with Mayank over the last year in an advisory capacity to help shape the company’s strategy.
“We are delighted that Bids is joining the leadership team at this pivotal stage in the development of the business as we refocus on the considerable growth opportunities that we see in the wealth management sector,” said CEO Paul Geddes.
“Bids knows Evelyn Partners really well and with his depth of experience in senior advisory roles and operations, and ability to bring both strategic insight and develop practical solutions, he is ideally positioned to help us deliver our transformation plans and achieve the next stage of our growth.
“I would like to thank Mayank for the immense contribution he has made to the business since joining us in 2020.”
Mahvelati added: “I am delighted to be joining the business at such an exciting time.
“Evelyn is a market leading wealth manager with ambitious plans and talented people. Lots of potential, lots to be done.”