David Went, chairman of The Irish Times Ltd, has been appointed as a non-executive director of Covestone, a Dublin-based wealth manager with about €100 million in assets under management.

Covestone is led by Donal Roche, a former managing partner of law firm Matheson Ormsby Prentice Solicitors. Its chairman is Jim Milton, co-founder of public relations agency Murray Consultants.

Mr Roche, who is also chairman of Barclays Bank Ireland, founded Covestone as a family investment office. It also offers investment services to other high net worth individuals and groups.

He was a co-founder of Appian Wealth Management but left about three years ago to set up Covestone. Mr Roche’s father, also Donal, was a founder of building materials company CRH.

Mr Went is an experienced banker and retired as chief executive of listed financial services group Irish Life & Permanent in 2007 after almost a decade there.