Wealth manager Brooks Macdonald has promoted two of its senior investment figures to co-CIO roles to succeed the outgoing Edward Park (pictured centre).
Richard Larner (pictured right), head of research, and senior portfolio director Michael Toolan (pictured left) will step up to the roles. Park is due to exit the firm later this year following a handover period.
The duo have been at Brooks Macdonald for a combined 35 years.
See also: Brooks Macdonald MPS assets climb to £3.9bn but firm sees £100m net outflow
Meanwhile, Philip Glaze will become chair of Brooks Macdonald’s Investment Committee.
He is currently an external member of the committee, having formerly been CIO of HSBC Global Asset Management. Glaze will be responsible for ensuring the firm’s house view and investment rules are clear and maintained throughout the business.
Andrew Shepherd, CEO at Brooks Macdonald, said: “Richard and Michael’s appointments are a testament to the strength of the firm’s talent and demonstrate our ability to retain and develop our best people. Both have shown strong investment acumen and leadership skills over the years and have a deep understanding of our investment proposition.”
Earlier this week (29 January), the firm announced the departure of Brooks Macdonald International CEO Richard Hughes.
