Audley Twiston-Davies, who made a $20m (€22m) plus fortune pioneering emerging markets investment at Foreign & Colonial, is returning to frontline City of London fund management.

The multi-millionaire Herefordshire landowner has taken a 20% stake in Taylor Young Investment Management. He also becomes chairman of the highly regarded private client firm that specialises in advising wealthy individuals with at least £500,000 (€800,000) to invest.