2 senior execs to exit Brooks Macdonald in reshuffle

Two senior executives are to leave London-based wealth manager and Financial Planner Brooks Macdonald after the company announced today that it would combine its distribution and investment management teams.

The company said it would merge the teams to create a, “single integrated team” focused on client service, business development and investment performance.

The changes will mean:

• Robin Eggar will step down from his role as chief commercial officer and leave the company
• Richard Larner, co-CIO, will retire. Mr Larner and colleague Michael Toolan will stay in their roles while a search for replacements gets under way
• Neil Cowell, group director of distribution, will lead the new combined team. He has 30 years of industry experience including in distribution and investments. The senior investment directors will report to him.

Brooks Macdonald said the new structure will enable closer collaboration across the organisation and will allow the firm to work, “more effectively and efficiently” serve its existing clients, broaden client reach and maximise investment expertise and performance.

CEO Andrea Montague said:  “Delivering excellent client service and expanding and deepening client reach are key to our strategy to reignite growth. Bringing together distribution and investment management creates a more integrated and connected team that is well positioned to execute our strategy and give our clients the best possible Brooks Macdonald service.

“Neil is a proven leader who understands our clients’ needs and will help drive this next phase of growth. Since joining Brooks Macdonald last year, he has helped strengthen our engagement with advisers and sharpen our focus on how we serve clients. I want to thank Robin and Richard for their significant contributions to Brooks Macdonald, and I wish them well for the future.”

Brooks Macdonald Group plc has a history dating back to 1991. It supports IFAs and clients and has a Managed Portfolio Service.