Brooks Macdonald hires Caroline Connellan to replace co-founder CEO

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Brooks Macdonald has announced that Caroline Connellan will replace the group’s co-founder, Chris Macdonald, as chief executive next year.

Macdonald will remain chief executive until Connellan joins in April, when he will then become deputy chairman.

The announcement comes as the group reports assets under management of £8.9bn in its quarterly results, up 7.5 per cent on last quarter.

Connellan joins from HSBC, where she was head of UK premier and wealth.

Connellan has worked as a fund manager at Newton Investment Management, as group strategy director for Standard Life, and as a wealth and asset management consultant at McKinsey.

Brooks Macdonald chairman Chris Knight says Connellan brings “valuable external perspective” to the company, which would help to drive further growth in the business.

Knight says Macdonald had been central in the “foundation, develpment and significant growth” of the company over the last 25 years.

“His new role as Deputy Chairman will ensure the Group continues to benefit from his experience and expertise as it fulfils its growth ambitions.”