Rathbone Brothers has appointed former Williams De Broe chief executive Philip Howell as its deputy chief executive.
Howell, who joins on 4 March, will join the group’s executive committee alongside Rathbones’ unit trust business chief executive Mike Webb. Howell will report to Rathbones chief executive Andy Pomfret.
The news comes as the firm announced a 13.4 per cent rise in assets under management in 2012, from £15.85bn to £17.98bn.
Pre-tax profits stood at £38.8bn in 2012, down 1 per cent on the £39.2bn recorded in 2011. Basic earnings per share of 67p were up 0.4 per cent on 66.72p in 2011.
Funds under management in the investment management business rose by 13 per cent from £14.8bn at 31 December 2011 to £16.7bn at the end of 2012. Rathbone Unit Trust Management saw its funds under management rise 16.5 per cent from £1.09bn to £1.27bn in 2012.
Rathbones chief executive Andy Pomfret says: “After a challenging 2012 UK equity markets ended the year on a more positive note and this has continued into 2013. Rathbones looks forward to 2013 with more optimism although markets do remain fragile as governments, particularly in the US, the UK and the eurozone battle with difficult economic and financial conditions.”