Brooks Macdonald has confirmed that managing director of UK investment management Nick Holmes (pictured) will be exiting the firm.
Holmes, who has been at the Aim-listed manager for more than 22 years, has decided to step down from the board on 30 November and leave the group entirely by the end of the year, the firm said in an RNS announcement.
The wealth manager said the UK investment management business will subsequently be co-led by Robin Eggar and John Wallace, head of London and head of regions, respectively. They will report directly to chief executive Caroline Connellan.
Chris Knight, chairman of Brooks Macdonald, said Holmes had been instrumental to the firm’s growth and success over the last two decades. Holmes became the sole managing director of the UK investment business in 2015 when Andrew Shepherd was promoted to deputy chief executive. The pair were first appointed joint managers of the group in 2008.
“I would like to thank Nick, whose contribution from the firm’s early days and in particular his leadership of our UK investment management business since 2008 have been major factors in our success to date,” said Knight. “His commitment, leadership and passion for Brooks Macdonald have significantly helped shape the business we are today.”
Elsewhere, Edward Park has been promoted to deputy CIO, according to his LinkedIn page. He was previously investment committee director at the firm.
Brooks Macdonald had £12.8bn in funds under management at 30 September 2018. Growth in its UK investment arm halved during the last quarter as volatility dampened investor sentiment.
