Freddy David steps down from HBFS job during Financial Conduct Authority investigation

Freddy David, the managing director of HBFS, has stepped down from day-to-day running of the wealth management company during a Financial Conduct Authority investigation into one of its investment accounts.

The JC understands that the high-interest investment account was arranged by HBFS but is unrelated to any other of the company's transactions. 

Mr David's role will be taken over by an interim managing director while the investigation takes place. 

A  spokesperson for HBFS said: "We will be cooperating fully with the FCA investigation into this matter.