Brewin Dolphin has closed its doors in York after seven years.
The national wealth manager has decided to merge the York branch into Leeds.
Michael Craven, who is responsible for the Leeds branch, will head up the merged office, which will have £1.5 billion under management and 45 investment managers and financial planners working under the same roof.
Assistant director Alison Pickup has been placed on gardening leave as a result of the merger. The company said she has been invited to apply for other roles in the company. Three administration assistants have also been made redundant. Meanwhile office head Paul Widdicombe, Charles Thompson, Craig Richardson and Helen Hare have all transferred to Leeds.
Linked to the decision, Brewin will relocate to new premises at 10 Wellington Place in the autumn.
The York office was launched in 2007 after a team defected from Barclays Wealth. At the time Brewin merged its Scarborough office into the new York office.
Stephen Ford (pictured), head of investment management, commented: 'While we recognise this is a sad day for York, we are continually reviewing how we conduct business to ensure our clients receive the best possible service. I am confident that all our clients will be very well served from our new enlarged Leeds office and that we will continue to grow our important and highly valued business in Yorkshire from our new state of the art building.'
Leeds head Craven added: 'I believe that all of our clients throughout the county and beyond, will benefit from having one stronger Yorkshire office with considerably increased resources and we look forward to welcoming clients and colleagues from York.'
Brewin, previously known for its regional expansion, has closed a string of offices over the past year. Its Chester and Truro offices were closed in May. It followed closures of branches in Lymington and Dorchester and plans to open a consolidated office in Bournemouth.
The Chester office closure also follows the decision to shut shop in Stoke in October of last year, with clients and some staff moved over to the national wealth manager's Manchester branch.