Brooks Macdonald appoints chairman

Brooks Macdonald appoints chairman

Brooks Macdonald has appointed Alan Carruthers, a director of small cap brokerage Numis, as chairman.

In a statement to the stock exchange today (February 8), Brooks Macdonald stated that Mr Carruthers would become chairman with effect from March 14, replacing Christopher Knight.

Mr Knight had been chairman for fourteen years, and a director for 17 years. During his period as chairman he led the company through its initial public offering (IPO).

Mr Carruthers said: "It is an honour to succeed Chris Knight, whose 17 years of service to Brooks Macdonald have seen the group transformed.  

"He leaves a firm well-positioned in its market, with exceptional adviser and client relationships driving a track record of market-leading levels of growth.  

"I look forward to working with my new board colleagues and the executive team led by Caroline Connellan, and I am confident that we can continue the group’s successful growth."

Brooks Macdonald won net new business of £158m in the three months to the end of September 2018, and had assets under management of £12.8bn at the end of that period.

The company stated that its assets under management rose by 16 per cent in the nine months to the end of September.