Mike Neumann, who was Tilney’s director of investment management, has begun his new job as head of investment management.

Last year Mr Spiers recruited a raft of new staff for his new boutique wealth manager EQ, including a quintet from his old business in March. He described this as bagging a "crack team".

Katharine Lindley, previously director of Financial Planning at Bestinvest, was one of the key appointments.

In October EQ Investors welcomed another two ex-Bestinvest employees - Sally Collins and Freddie Cleworth.

Mr Neumann will focus on investment strategies for the firm’s EQ Bespoke clients, with responsibility across all areas of solution design, management and client delivery.

Neumann, who has over 25 years of investing experience, said: “I am excited to join this growing business and believe there are excellent opportunities to expand the EQ Bespoke service. I’m champing at the bit to get started.”

Mr Spiers said: “Mike brings valuable know-how to EQ and an exceptional record of establishing strong relationships with clients. His investment knowledge and experience will be invaluable as we grow the EQ bespoke service.”

EQ also announced the appointment of Terri Jones as business development manager, as the business targets growth across its range of service offerings.