Discretionary manager Brooks Macdonald has appointed Numis non-executive chairman Alan Thomas Carruthers as its new chairman.
Carruthers will succeed Christopher Knight, who is due to retire following the publication of the group’s interim financial report on 14 March.
56-year-old Carruthers was formerly managing director of Cazenove Capital after serving as head of global sales trading at Morgan Stanley in the late 1990s.
Brooks Macdonald senior independent director Colin Harris led the process to appoint a successor to Knight, and says Carruthers met the board’s “strict criteria” in the selection process.
Carruthers says: “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.”
The move marks the latest change at the top for Brooks Macdonald.
Brooks Macdonald reshuffled its chief executive in 2017, as former boss Chris Macdonald stepped into the deputy chairman role to make way for HSBC’s UK wealth business head Caroline Connellan.
After 22-years at the firm, managing director Nick Holmes stepped down in November 2018.