Brooks Macdonald CEO Andrew Shepherd (pictured) has announced he will retire from his role as group chief executive officer, after 22 years with the firm. Chief financial officer Andrea Montague will take on the role from 1 October 2024, subject to regulatory approval.
Montague, who is also executive director at Brooks Macdonald, joined the company in 2023. Prior to joining Brooks, she was group chief risk officer at Aviva. Montague has also held senior roles at Standard Life and Royal London Group.
Brooks Macdonald is now actively seeking a CFO to fill Montague’s current role.
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Maarten Slendebroek, chair of Brooks Macdonald, said: “I am very pleased to announce Andrea’s appointment as group chief executive officer. Andrea joined the group in 2023 as chief financial officer and as part of the board’s succession planning strategy for the group chief executive officer role. “Nevertheless, the board has followed a selection process supported by independent consultants which confirmed Andrea as the strongest candidate for the position. Since joining the group, Andrea has demonstrated a depth of experience, pace and leadership which will be key in her new role and in successfully continuing to drive forward the ambitious growth strategy of which she has been a co-architect with the board.”
Slendebroek added: “On behalf of the board, I would like to thank Andrew for his leadership, dedication and commitment to the group over the past three years as group chief executive officer and over the last 22 years with the business. In that time, Andrew has become a respected leader in the wealth management industry. He has been pivotal in shaping the group over this period, and leaves behind a stronger business. We wish Andrew well for the future.”
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Montague said she is “delighted to be appointed group chief executive officer of Brooks Macdonald”. “I am looking forward to leading our team to execute our ambitious growth strategy, deliver outstanding service to our clients and create long-term shareholder value.”
Andrew Shepherd said Brooks Macdonald has been a “fantastic home” for him for more than two-thirds of his career, and that he has had “the most incredible time” at the business.
He added: “I am delighted that in Andrea we have a successor with all the attributes needed to drive our strategy whilst maintaining the culture that has made Brooks what it is. I wish Andrea and all my colleagues the best for what I am sure will be an exciting and successful future.”
