Brooks Macdonald Group has appointed Andrew Shepherd, Group Deputy Chief Executive and Managing Director, UK Distribution, as CEO of the company’s international business based in the Channel Islands, with effect from 1 April 2019.
Shepherd is one of the Group’s most experienced leaders with 17 years’ service at Brooks Macdonald. He will chair the Boards of the two legal entities within International.
Given these commitments, Shepherd is stepping down as a member of the Group Board with effect from 1 April 2019 to focus on realising the potential of the International business. He will remain Group Deputy Chief Executive and will pass his Distribution responsibilities to John Wallace, Co-Head of UK Investment Management.
Shepherd will take over from Darren Zaman, CEO for the past five years, who has decided to leave the business. Zaman has made a major contribution to the development of International, having joined initially as part of the 2014 acquisition of DPZ Capital (founded by Darren in 2007) which was then integrated into the International business.
Richard Hughes will be appointed Deputy CEO of International, in addition to his current responsibilities as Head of Business Development.
The strategic rationale remains robust for Brooks Macdonald’s presence in the Channel Islands, an attractive market for the Group with a thriving wealth management industry. The depth of professional expertise makes the Islands an ideal base from which to access international opportunities, which the business has taken advantage of in recent years. Brooks Macdonald’s investment management and financial planning expertise is well suited to the market, ensuring it remains a key element of the Group’s overall strategy.
Caroline Connellan, Chief Executive of Brooks Macdonald says: “International is an important part of our Group and our future growth strategy. I am delighted that Andrew Shepherd is taking over as CEO of the business. Andrew’s depth of experience and expertise, alongside his people leadership and commitment to client service, will be central to our efforts to revitalise the business so that it contributes strongly to the Group’s future success.”