Brown Shipley's fund management arm Solus has seen a reshuffle of funds and management team.
The shake-up has been led by new managing director Tony Hurley and chairman David Rough.
Hurley, who is also Brown Shipley's head of private banking, has taken over from Graeme Sinclair, who is leaving the company.
Brown Shipley's investment policy committee will now be responsible for overseeing all Solus funds, with the current portfolio of 17 funds being reduced to eight.
Hurley has brought in former Mercury Asset Management director and Merrill Lynch Investment Managers managing director Paul Harwood to advise on the UK special situations fund and a new UK flagship fund. Former Legal & General Investment Management compliance director Janet Carey joins Solus as operations director.
The sales and marketing team has been reduced and a dedicated liaison manager is to be appointed to maintain IFA relationships.
Hurley says: “Since January 2003, funds under management have grown to £236m from £147m, largely as a result of growth from existing clients. In the period to September 2003, latest figures show 10 Solus funds outperformed their benchmarks. Strengthening links with Brown Shipley's investment management business and integrating administration and compliance processes will help us to continue delivering consistent performance and enhanced client service.”