Savill previously worked at Royal Bank of Scotland and will now oversee Gilliat’s expansion.

Adrian Neave, managing director, said the business found itself in an extremely challenging climate when it started in 2009, but that the offshore market has always been in its sights.

In April the firm expanded its UK operations through joint distribution ventures with Jordan Buchanan and Clarendon Marketing. Since it was founded Gilliat has launched over 100 structured products.