Newly launched wealth management firm RiverPeak Wealth has appointed Marianne Hay to its advisory board.

Newly launched wealth management firm RiverPeak Wealth has appointed Marianne Hay to its advisory board.

Hay, who has headed global wealth and asset management groups including roles as chief executive of Europe, Middle East and Africa wealth management at Morgan Stanley, Citi and Standard Chartered, will offer advice on the growth and development of the business, RiverPeak said in a statement.

Riverpeak was launched in December last year by managing director Nick Parker, the former head of private banking at Banque Havilland.

"The wealth management market in the UK continues to be fragmented with no clear market leader. The Retail Distribution Review has given Riverpeak Wealth an opportunity to develop new ways of providing wealth advice," said Parker.

The move follows the appointment earlier this month of former Banque Havilland, director James Powell as managing director.