Brooks poaches from Brewin as trio hired for Leeds office

‘Wealth space suffers from perpetual staff turnover’

Brooks Macdonald

Brooks Macdonald has appointed three investment directors for its Leeds office as the “wealth space suffers from perpetual staff turnover”.

Rachael Marsden joins from Brewin Dolphin where she was investment manager, alongside Rachel Bannister from private office Grandwood Limited and Richard Lindop from Barclays Wealth Management where he was a wealth manager.

AJ Bell’s head of active portfolios Ryan Hughes, said: “[It] seems like the wealth space suffers from perpetual staff turnover.”

In a press release, Brooks said additions recognise Leeds and the surrounding area as a hub for financial advisers.

Willis Owen head of personal investing Adrian Lowcock said: “Wealth managers have been strengthening up their national networks for several years now as they compete for business. Even though many industries are going online, there is still a clear demand and indeed a need for the personal touch in looking after the investments and wealth of high net worth individuals.”

Co-head of UK investment management John Wallace (pictured) said: “Building our presence in Leeds supports our investment in the region, and additionally puts us in a strong position to further develop our relationships at a local level.”

These latest hires come after Brooks Macdonald poached from rivals as part of its hiring spree in September, with the appointment of six senior specialists to expand its investment teams in Cardiff, Edinburgh, Hampshire, London and Taunton.

This week, Brooks Macdonald founder John Gumpel also announced he was stepping down as manager of the IFSL Brooks Macdonald Defensive Capital (DCF) fund and leaving the firm after 28 years.

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