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Brooks completes regional footprint with Leamington Spa office launch
Brooks Macdonald has expanded its reach with the launch of a Leamington Spa office, a move that chief executive Chris Macdonald (pictured) says completes the firm’s regional footprint.
The Warwickshire office will be headed by investment team director Mike Divers, who is relocating from London, and takes the number of regional offices up to 11 across the UK and Channel Islands.
This marks an eventful four years for the firm, during which it has expanded into Scotland, York, the South West and the Channel Islands through a combination of bolt-on acquisitions, hires and internal promotions.
Divers will report to regional director Claire Bennison and work alongside Richard Harley, business development manager for the Midlands, and new recruit Sue Wilkinson, who will support the executive team. She previously worked at Ashcourt Rowan and Investec Wealth & Investment.
Brooks Macdonald said the new office would service its Midlands-based clients and hopefully attract new business in the region.
Macdonald explained: ‘This really completes our footprint across the UK. We have got regional coverage now from south to north and east to west, which allows us to service our clients on a nationwide basis. It gives us a local footprint.
‘If we have got relationships with professional intermediaries who are multi-sited, we want to service them locally. We have been working in the Midlands for some time and with a number of firms, so we are not starting cold.’
Divers, who runs £130 million in assets, said: ‘The new office is part of our expansion strategy, and filling the gap in the Midlands was part of the climbing. We wanted to bring our services to clients and IFAs in the region.’
Macdonald was unable to disclose specific growth targets for the new office but said he was ‘quietly confident’ that Brooks would do well in the region.
Commenting on the decision to launch the office organically rather than acquire or hire in an external team, he said: ‘Mike works with a number of clients and is very familiar with the intermediary landscape in the Midlands. He is the right guy to run it.’
Brooks posted a 45% increase in assets under management to £5.1 billion over the year to the end of June, buoyed by its acquisition of Channel Islands-based Spearpoint in November 2012.
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by Danielle Levy on Dec 04, 2013 at 11:37