Wealth manager Brooks Macdonald names new chief exec as assets under management rise 7.5 per cent
Brooks Macdonald today named a new chief executive as the wealth management firm reported a seven per cent growth in assets under management (AUM).
Caroline Connellan, HSBC’s head of UK premier and wealth, is set to join the company next April and will replace Chris Macdonald.
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Macdonald will take on the position of deputy chairman and the company’s board intends him to be made chairman in the future, subject to shareholder approval.
“Chris has been central in the foundation, development and significant growth of Brooks Macdonald over the last 25 years. His new role as deputy chairman will ensure the group continues to benefit from his experience and expertise as it fulfils its growth ambitions,” said current chairman Chris Knight.
“Caroline brings significant wealth management experience that will be critical to delivering the group's strategy and we are confident that she will bring a valuable external perspective which, together with our experienced management team, will enable us to meet our clients' expectations and to drive further growth in our business.”
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Brooks Macdonald also reported today that discretionary funds under management totalled £8.9bn as at 30 September, an increase of 7.5 per cent during the quarter.
The company’s shares were flat at 1,759p at the time of writing.