DFM Firm Sparrows Capital promotes Phillip Young to Deputy CIO

Evidence-based investing discretionary fund manager Sparrows Capital has promoted Phillip Young to Deputy Chief Investment Officer.

The promotion comes a few months after the DFM firm hired James Denton, Paul Fox and Michelle Liseli as Business Development Managers.

Young joined the firm in 2022 and was previously an investment analyst.

Prior to Sparrows Capital, he spent over eight years at Wealth at Work as an Investment Analyst. Young also spent six years at Rathbones as an Investment Administrator.

In his new role, he will be working alongside Raymond Backreedy, who has been Chief Investment Officer since 2017.

Backreedy said: “We’re delighted to appoint Phillip as Deputy CIO. His expertise, knowledge, and strong support have made a real impact across the business. This is a natural next step as we continue to strengthen our investment capability and deliver even more for our clients.”

Young added: “I’m honoured to step into the role of Deputy CIO. It’s a privilege to work alongside Ray and such a talented team, and I’m excited to help shape the next phase of our investment strategy while continuing to focus on delivering consistent, long-term value for our clients.”

Earlier in the year, Sparrows Capital celebrated the fifth anniversary of its Sparrows SCore MPSand the first anniversary of its retirement income solution, Sparrows SCore-D, in partnership with Just Group.