Directorate Change

RNS Number : 3106U

Brooks Macdonald Group PLC

28 March 2019

 

28 March 2019

BROOKS MACDONALD GROUP PLC

Directorate Change

Appointment of Andrew Shepherd as CEO of Brooks Macdonald International

Brooks Macdonald Group plc (the "Group"), the AIM listed investment management group, today announces Board and senior leadership changes at its International business based in the Channel Islands.  These are designed to position the business for the next phase of its development, reinforcing its contribution to the Group's overall strategy for growth and medium-term margin improvement.  The changes are subject to regulatory approval.

Andrew Shepherd, Group Deputy Chief Executive and Managing Director, UK Distribution, will become CEO of the International business with effect from 1 April 2019, based full time in Jersey.  Andrew is one of the Group's most experienced leaders with 17 years' service at Brooks Macdonald, and his appointment to this role is a clear signal of the Group's commitment to International.  He will chair the Boards of the two legal entities within International.

Given these commitments, Andrew is stepping down as a member of the Group Board with effect from 1 April 2019 to focus on realising the potential of the International business.  He will remain Group Deputy Chief Executive and will pass his Distribution responsibilities to John Wallace, Co-Head of UK Investment Management.

Andrew will take over from Darren Zaman, CEO for the past five years, who has decided to leave the business.  Darren has made a major contribution to the development of International, having joined initially as part of the 2014 acquisition of DPZ Capital (founded by Darren in 2007) which was then integrated into the International business.  Darren leaves with the Group's best wishes.

Richard Hughes will be appointed Deputy CEO of International, in addition to his current responsibilities as Head of Business Development.

The strategic rationale remains robust for Brooks Macdonald's presence in the Channel Islands, an attractive market for the Group with a thriving wealth management industry.  The depth of professional expertise makes the Islands an ideal base from which to access international opportunities, which the business has taken advantage of in recent years.  Brooks Macdonald's investment management and financial planning expertise is well suited to the market, ensuring it remains a key element of the Group's overall strategy.

Caroline Connellan, Chief Executive of Brooks Macdonald commented:

"International is an important part of our Group and our future growth strategy.  I am delighted that Andrew Shepherd is taking over as CEO of the business.  Andrew's depth of experience and expertise, alongside his people leadership and commitment to client service, will be central to our efforts to revitalise the business so that it contributes strongly to the Group's future success."

Enquiries to:

Brooks Macdonald Group plc Caroline Connellan, Chief Executive Ben Thorpe, Finance Director	www.brooksmacdonald.com 020 7499 6424
Peel Hunt LLP (Nominated Adviser and Broker) Guy Wiehahn / Adrian Haxby	020 7418 8900
MHP Communications Reg Hoare / Simon Hockridge / Charlie Barker	020 3128 8540

Notes to editors

Brooks Macdonald Group plc, through its various subsidiaries, provides leading investment management services in the UK and internationally. The Group, which was founded in 1991 and began trading on AIM in 2005, had discretionary funds under management (FUM) of £11.9bn as at 31 December 2018.

Brooks Macdonald offers a range of investment management services to private high net worth individuals, pension funds, institutions, charities and trusts. The Group also provides financial planning as well as offshore investment management and acts as fund manager to a regulated OEIC providing a range of risk-managed multi-asset funds and a specialised absolute return fund.

The Group has thirteen offices across the UK and the Channel Islands including London, East Anglia, Hampshire, Leamington Spa, Manchester, Taunton, Tunbridge Wells, York, Scotland, Wales, Jersey, and Guernsey.

LEI: 213800WRDF8LB8MIEX37

 

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