Andrew Shepherd to be promoted to Brooks Macdonald CEO
Brooks Macdonald Group announced the appointment of Andrew Shepherd as group chief executive officer on Monday, with effect from 1 July, subject to regulatory approval.
The AIM-traded firm said Shepherd would begin a process of handover from the incumbent, Caroline Connellan, with immediate effect.
Shepherd is currently group deputy CEO, and CEO of its international business, with the company adding that Shepherd had extensive financial services experience spanning 27 years, having joined Brooks Macdonald in 2002.
He had held numerous roles across the firm, including group deputy CEO since 2015, and took up his current International role in April 2019.
Shepherd is also currently chairman of the two legal entities within the international business.
He was succeeding Caroline Connellan who, after four years as CEO, had notified the board of her decision to resign and leave the group in order to become CEO of personal wealth at Standard Life Aberdeen.
“I am very pleased to announce Andrew's appointment as Group CEO - his unrivalled experience and knowledge of the industry, and commitment to Brooks Macdonald, position him uniquely to lead the group and build on its significant momentum,” said chairman Alan Carruthers.
“I am confident he will continue this progress and drive forward our strategic vision for Brooks Macdonald as the leading investment manager for intermediaries.”
Andrew Shepherd said he was taking over a “strongly performing and well capitalised” business with “highly talented” people and a “leading” full-service investment management proposition.
“The business continues to deliver successfully against the strategic objectives set out last year, with momentum building,” the incoming CEO said.
“I am confident in the future prospects of the group and look forward to working with everyone to continue both to create shareholder value and to deliver robust investment performance and outstanding service for our clients and intermediaries.”
At 0901 BST, shares in Brooks Macdonald Group were up 0.97% at 2,090p.