Appointment of Group Chief Executive Officer

Andrew is currently Group Deputy CEO and CEO of the Group's International business. He brings a depth of financial services experience spanning 27 years and joined Brooks Macdonald in 2002.  He has held numerous roles across Brooks Macdonald, including Group Deputy CEO since 2015, and took up his current International role in April 2019. He is also currently Chairman of the two legal entities within the International business.

Andrew will succeed Caroline Connellan who, after four years as CEO, has notified the Board of her decision to resign and leave the Group in order to become CEO of Personal Wealth at Standard Life Aberdeen plc.

Commenting on the appointment, Alan Carruthers, Chairman of Brooks Macdonald, said:

"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. I am confident he will continue this progress and drive forward our strategic vision for Brooks Macdonald as the leading investment manager for intermediaries.

"On behalf of the Board, I would like to thank Caroline for her leadership over the past four years. She has been central to the transformation of the business, guiding it through a period of change, leaving it in a position of strength and primed for further growth. We wish Caroline well in the next stage of her career."

Andrew Shepherd, incoming Group CEO, said:

"I am delighted to be appointed Group CEO of Brooks Macdonald, the firm which has been my home for almost 20 years. The business under Caroline's leadership has gone from strength to strength, and I am excited to take the firm forward on the next stage of its growth journey.

"I take 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.

"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."