Brooks Macdonald appoints new CEO

Brooks Macdonald Group, AIM listed investment management services company, has appointed Caroline Connellan as its chief executive officer, starting on April 2017.

Connellan has over 20 years of experience in financial services, most recently as head of UK premier and wealth at HSBC where she has led the transformation of the UK wealth business.

She held a number of senior corporate roles including group strategy director at Standard Life and as a consultant at McKinsey. She started her career as a fund manager with Newton Investment Management in London.

Chairman Chris Knight said: "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."

Her predecessor Chris Macdonald will remain as CEO until Connellan takes over, after which he will become deputy chairman. He will also serve as an adviser to the company to support the continued growth and development of the group. The board intends to promote him to 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 Knight.

The share price rose 1.43% to 1,785.20p at 1200 BST on Thursday.