Brooks Macdonald, the AIM listed investment management group, has announced changes to the Board and senior leadership team in its International business, based in the Channel Islands, as the firm looks to position the business for the next phase of its development. The changes are subject to regulatory approval.
Andrew Shepherd, Group Deputy Chief Executive and Managing Director, UK Distribution, will become CEO of Brooks Macdonald’s 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 the International business. 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.
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 Brooks Macdonald’s International business, having joined initially as part of the 2014 acquisition of DPZ Capital (founded by Darren in 2007), which was integrated into International.
In addition, Richard Hughes will be appointed Deputy CEO of International. This is in addition to his current responsibilities as Head of Business Development for International, a post he has held for the past five years, based in Jersey.
Brooks Macdonald International, one of the largest investment management firms in the Channel Islands, has offices in Jersey and Guernsey and acts as the Group’s expert hub for supporting trustees, professional advisers, private clients and charities across Europe, South Africa and the Middle East with investment management and financial planning expertise.
Caroline Connellan, Group Chief Executive of Brooks Macdonald, commented:
“International is an important part of our future. I am delighted that Andrew Shepherd is taking over as CEO of International. Andrew’s depth of experience and expertise, alongside his people leadership and commitment to client service, will be central to our efforts to position the business for the next phase of its development so that it contributes strongly to the Group’s future success.”
Commenting on his appointment, Andrew added:
“I’m very much looking forward to taking International forward into its next chapter as we continue to develop the business. What is clear to me is that we have an excellent platform for growth here, with a fantastic team across our Jersey and Guernsey offices, a strong client base and a good pipeline, with developing partnerships and alliances in key overseas markets, including the Middle East and South Africa.”
Brooks Macdonald has had a presence in the Channel Islands since 2012. As at 31 December 2018, Brooks Macdonald International had Funds Under Management of £1.5 billion.