Brooks Macdonald promotes Edward Park to Chief Investment Officer

Brooks Macdonald, a leading wealth manager with £13.7 billion in funds under management, announces that Edward Park has been promoted to Chief Investment Officer with effect from 1 October 2020.  He will succeed Brooks Macdonald co-founder Richard Spencer who will continue to serve his clients and act as senior adviser to the Investment Committee.

Edward was appointed Deputy Chief Investment Officer in 2018 and has been working alongside Richard for over six years as part of the company’s long-term succession planning.

He joined the firm as a graduate trainee in 2009 and is the latest example of Brooks Macdonald’s ability to nurture talent and bring high-performing individuals through the ranks into leadership positions. Earlier this month the company announced the promotion of Ben Palmer to Head of Responsible Investment after nine years at the firm. Ben also started as a graduate trainee.

Commenting on his appointment, new Chief Investment Officer Edward Park said:

“I am thrilled to be given this opportunity and to move to the next step of my career. I am proud of the investment process that we have built at Brooks Macdonald, its success in weathering the volatility this year, and our strong investment performance. I look forward to continuing to work with Rich for many years ahead and benefiting from his advice as we deal with fresh investment challenges and opportunities.”

After nearly 30 years of service to the firm, Richard Spencer will step aside as Chief Investment Officer but continue to serve his clients and remain involved in the investment process.

Richard Spencer is looking forward to the next stage of the Brooks Macdonald growth story. “Having worked alongside Ed for many years, I am confident that the investment process will continue to prosper under his stewardship. This appointment not only reflects the group’s focus on succession planning, but also the depth of talent we have here at Brooks Macdonald.  While I have decided to step down as CIO, I will remain very much part of the firm going forward. After almost 30 years, I still see enormous growth potential for Brooks and I share Caroline’s excitement at the strategy we have put forward.”

Caroline Connellan, Brooks Macdonald’s CEO added: “As a co-founder, Rich was there right at the beginning of Brooks Macdonald in 1991, aiming to show that wealth management could be done differently. Ever since, he has been a driving force in the success of our business, playing a leading role in our investment approach.

“Following Rich’s decision to step down as CIO, I am delighted to promote Ed into this leadership position after his many years of excellent service.

“Looking forward, we are confident in our vision for Brooks Macdonald as the leading investment manager for intermediaries, leveraging our strengths. I am excited by the opportunity to continue to build on the Group’s history of success and look forward to continuing to work closely with Rich and Ed.”

Last week, Brooks Macdonald announced record revenues of £108.6m for the year to 30 June 2020, along with funds under management of £13.7bn.