Creechurch Capital, the Douglas-based discretionary fund management firm, has appointed Jim Dolan as managing director.

Mr Dolan, chartered FCSI and a chartered wealth manager, joined Creechurch in March as director and investment manager following the acquisition of the business by the Nayyar Group.

Since then Creechurch has seen a number of changes which have included securing appointments to strengthen the existing team.

Chris Hutton MBE, chairman and finance director at Creechurch Capital, welcomed Mr Dolan’s appointment.

He said: ’Following the acquisition we had a period of high activity, and now that this has been successfully concluded it was an appropriate time to appoint a managing director to the board.

’With more than 25 years’ experience working in the City of London during a successful career as an investment manager, including working closely with FACET as a non-executive director, Jim is the ideal choice as MD.’

Mr Dolan said: ’I’m delighted to accept this position and to have this opportunity to take the business forward into its next exciting period of growth.’

This news follows two more appointments at Creechurch Capital in recent weeks.

In June David Nixon joined the board as non-executive director, and in May Miles Ashworth became the head of private wealth.

The Nayyar family founded and own the Nayyar Group, a specialist in various services including property management and development, land development, distressed assets and retail services.

The group’s objective with all of its ventures is to deliver development in a manner combined with the highest levels of commitment.

FACET is a firm of investment and fund managers which has been helping clients navigate complex financial markets since 1979 and takes great pride in delivering absolute returns to its investors while maintaining a low to medium risk on investments.

lDavid Nixon has been appointed to the board as a non-executive director.

He is well known in the Isle of Man’s wealth management sector having held the position of managing director at Blackrock for seven years from 2001 before going on to a string of senior positions and directorships within the island’s insurance and investment sectors.

Mr Nixon said: ’It’s exciting to be part of this new phase in Creechurch’s development as part of the Nayyar Group.

’I’m looking forward to working with local directors Chris Hutton and Jim Dolan.

’Creechurch is a business I have seen grow from its very formation to the recent acquisition by the Nayyar Group.

’It is particularly welcoming to see inward investment to the island by the Nayyar Group, and a bolstering of the local wealth management industry.

’After hearing the plans for the business I am excited to be involved and look forward to adding my knowledge and vision to that of the existing, highly experienced team.’

Jim Dolan, managing director, said: ’Although we were confident of our own credentials and investment track record, when Creechurch was acquired by the Nayyar Group we knew that its future success would depend on blending our own knowledge with local expertise and developing local talent.

’It is for this reason we are delighted to welcome David to the board, bringing as he does a long track record within the island’s wealth management industry.

’I personally look forward to working with him to enhance the business proposition at Creechurch for the benefit of our clients, both existing and new.’