David Cobb, head of investment management and banking, and Kevin Stopps, head of tax and business services, will become co-chief executives with effect from 27 September.
As well as jointly running the entire accountancy and investment management company – S&W is the eighth largest UK accounting firm and S&W IM has £14bn in assets under management – the two will also retain their responsibility for managing their respective businesses.
A spokesperson confirmed there are not plans currently to recruit new business heads.
Already members of the board, and with Stopps and Cobb each having more than 25 years with Smith & Williamson, they unsurprisingly describe how they will take the company forwards as “evolutionary, not revolutionary”.
At the same time, Andrews Sykes, a board member for the past nine years, will become chairman of the holding company, a non-executive role.
