Evelyn Partners appoints new chief operating officer

Evelyn Partners has announced the appointment of Bahador Mahvelati to the role of chief operating officer and a member of the group executive committee, effective from March, as the firm aims to refocus exclusively on wealth management.

Mahvelati’s arrival is a part of a planned transition following the decision made by Mayank Prakash, the current group COO, that the recently announced sale of Evelyn Partners’ professional services and fund solutions businesses was “an appropriate time to step down”. 

Having worked closely with Prakash over the last year in an advisory capacity, he will join from PwC UK, where he is currently a strategy and operations partner and leads the financial services value creation practice. 

His experience prior to the Big Four firm includes hands-on operational roles at UBS Investment Bank and Natwest Group, as well as working for strategic consultancy firms. 

At Evelyn Partners he will lead cross-functional change programmes, client journey changes, tech, data, security, operations, M&A, strategy, and central services. 

Paul Geddes, CEO of Evelyn Partners, said: “We are delighted that Bahador Mahvelati 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. 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. This has included leading the operational integration of Tilney and Smith and Williamson, the creation of a modern and scalable financial services platform, the digitalisation of the business, enhancements to client experience, driving the growth of the Fund Solutions business and a great many other projects.”