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Brewin Dolphin funds rise in Q1 as income climbs 15%; CEO to retire

By BFN News | 07:29 AM | Wednesday 29 January, 2020


Brewin Dolphin said David Nicol would retire as chief executive on 14 June. The wealth manager also reported a rise in funds in the first quarter of the year as income climbed 15.3% despite 'challenging' market conditions. The company appointed Robin Beer as Nicol's successor. Beer was currently responsible for Brewin Dolphin's intermediaries, charity, professional services and digital businesses. For the first quarter, total funds increased by 7.8% to £48.5bn from £45.0bn seen at the end of last year and discretionary funds increased by 4.2% to £41.8bn, driven by 'strong' investment performance and positive organic net inflows, the company said. Total quarterly income amounted to £89.6m, up 15.3% from £77.7m last year. 'We remain on-track with the implementation of both our new client management system and core custody and settlement system,' the company said. 'The integration of our acquisition in Ireland is progressing well and we remain confident about the long-term growth opportunities.' Story provided by StockMarketWire.com

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