Wealth manager London & Capital has appointed Sir David Michels, the deputy chairman of Marks & Spencer and Easyjet, as its chairman, as boutique wealth shops reach out to influential high-profile veterans to guide them through the challenging market.

Michels will work closely with the partners of the firm and the senior management team, including joint managing directors Daniel Freedman and Richard Leigh. Michels will help to grow the firm's global distribution over the next three to five years, including expansion across the US and Asia, and reinforce London & Capital's presence in the institutional market.