Two senior directors are set to leave national wealth manager Brewin Dolphin.
Newcastle-based divisional director David Clinkard and the firm’s head of change management and former board member John Beeston are departing the firm.
Beeston is set to move to Fidelity, where he will take on a senior operational role to help enhance Fidelity’s platform proposition, including its cash management service. It is not yet known where Clinkard is moving to.
A spokesperson for Brewin Dolphin said recent recruit David Berry will take on Beeston’s responsibilities as head of business support.
‘David brings a substantial amount of experience in securities operations, acquired over many years working in the industry. David will work with John Beeston to ensure an effective handover over the next two to three months,’ the spokesperson said.
Beeston had been head of change management since last May and had overarching responsibility for group operations and the regulatory CF10a reporting responsibilities, which means he has been the individual approved for Cass operational oversight, reporting to chief executive David Nicol (pictured).
Prior to this, he was an executive director and board member. According to his LinkedIn profile, he played a key role in Brewin’s strategic review, which focused on increasing the firm’s operating margin to over 20% and introducing new systems to improve efficiency.
Clinkard, meanwhile, has worked in the industry for over 20 years and was a senior member of Brewin’s large Newcastle office.
Their departures come as deputy head of equity research Edmund Salvesen prepares to leave the firm.
Earlier in the month, Brewin announced it would close branches in Lymington and Dorchester and open a consolidated office in Bournemouth later this year. The move marks the latest episode in the ongoing rationalisation of Brewin regional network, which has seen it shut divisions based in Teeside, Inverness and Stoke.
Brewin was unavailable to comment on Clinkard’s departure at the time of going to press.