Ex-Deutsche Tilney staff set up Brewin Shrewsbury office

Brewin Dolphin has taken advantage of the disaffection at Deutsche Bank Private Wealth Management’s Tilney arm to hire a new team to open an office in Shrewsbury.

The office is to be headed by Brian Price, who recently joined Brewin Dolphin from Deutsche Bank as a divisional director.

Price has brought Richard Jacomb, investment director and former head of Deutsche Bank’s Shrewsbury office when it was operating under the Tilney Investment Management banner, on board with him as well.

The duo has also been joined by Brian Boyd, who headed up the Deutsche Bank sales force to the intermediary community in the Midlands.

The new Brewin Dolphin office will be located in Shrewsbury Business Park, a stone’s throw from the current Deutsche Bank offices.

Earlier this month, Citywire Wealth Manager reported how several former Tilney wealth managers who were locked into three-year contracts when Deutsche Bank took over the stockbroker, have left the company on the expiry of the lock-ins.

Brewin Dolphin, meanwhile, is looking to grow the office and is currently on the lookout for both investment managers and administrative staff.

The firm’s personnel director Linda Cartwright is set to interview a number of prospective candidates in the company’s Shrewsbury office.

After the closure of the company’s Eastbourne office, the addition of the Shrewsbury office brings Brewin Dolphin’s regional network total to 41 branches. The wealth manager now runs approximately £22 billion in client assets.

Yesterday Brewin Dolphin reported a 37% rise in profits, with executive chairman Jamie Matheson (pictured) confident about future growth.