PiRho was founded over nine years ago in September 2008, by Nicola Ralston and Phil Irvine. Since then PiRho has given bespoke advice on assets of over £20bn to pension funds, insurance companies, endowments, investment companies and corporates. We have advised on a variety of strategies and portfolio structures, including fiduciary management, Diversified Growth Funds, absolute return mandates, liability driven investment and specialist equity portfolios, as well as providing corporate finance advice in the investment management industry. We also undertake expert witness work on legal disputes in the investment industry.

Directors

  • Nicola Ralston

    Nicola Ralston

    Director

    Nicola Ralston

    Director

    Nicola is a director of PiRho Investment Consulting which she co-founded with colleague Phil Irvine. She has over thirty years investment experience as an analyst, portfolio manager and investment consultant, and featured as one of Dow Jones Europe/Financial News’ “Veterans of Finance” list in 2009.

    She is now a director and co-founder of PiRho Investment Consulting. Nicola spent over 20 years at Schroders, where her roles included managing the UK institutional business and Head of Investment for the Group. She was subsequently Head of Global Investment Consulting at Hewitt, and then a director of Liability Solutions. Nicola is a Fellow of CFA UK, a former Chair of CFA UK and was a Governor of CFA Institute between 2003 and 2009. She is also a director of the Edinburgh Investment Trust, and a member of the FTSE Policy Committee.

    She has a first class honours degree in Modern History from Somerville College, Oxford and is an Honorary Fellow of Somerville College.

  • Phil Irvine

    Phil Irvine

    Director

    Phil Irvine

    Director

    Phil is a director of PiRho Investment Consulting which he co-founded with colleague Nicola Ralston. Between 2003 and 2008 he was Director of Advisory Services at Liability Solutions, and he headed the consultancy business assisting institutions on absolute return strategies.

    Phil was previously Chief Investment Officer for TriAlpha (the offshore investment arm for South African bank, ABSA), where he had responsibility for long-only as well as hedge fund products, which he joined in 1999.

    Prior to TriAlpha, Phil spent 15 years at the UK Life Assurance company, Colonial Mutual, where he was CIO. He has chaired the judging panel of Hedge Fund Review’s award for European Fund of Hedge Funds since 2003. Phil graduated from London School of Economics with a 2:1(Hons) degree in Economics.

Team Members

  • Clive Lang

    Clive Lang

    Consultant

    Clive Lang

    Consultant

    Clive has over 30 years’ investment experience with firms such as Merrill Lynch (MLIM) and PanAgora, focusing on quantitative products and services.

    He has worked in traditional and hedge fund firms, including designing and implementing risk management systems; he was the former Chief Risk and Compliance Officer, Peak Partners

    Clive holds a BSc degree in Pure Mathematics with Statistics and Physics, London University and a MSc from Kent in Statistics with Econometrics.

  • David Garcia

    David Garcia

    Investment Analyst

    David Garcia

    Investment Analyst

    David was previously an Equity Derivatives Sales Intern at BNP Paribas, Madrid for one year. As a Business Strategist in Madrid and Warsaw he worked at ING Bank for three years and holds a Masters in Financial Markets (2:1) from IEB, Madrid and BSc in Economics (2:1) from the University of Zaragoza.

    David is a CFA Level III Candidate and volunteer with the CFA Society of the UK.