Brooks Macdonald has promoted from within to fill two newly-created roles that are a key part of the wealth manager’s plans to grow the business and enhance profit margins.
Liam Pryce-Jones becomes Brooks’ new head of South, while Gary Stirrup will serve as head of UK distribution.
Pryce-Jones (pictured) will liaise with Brooks’ teams in East Anglia and Tunbridge Wells from his base in the group’s Hampshire office to drive business opportunities in the region. He is Brooks’ fourth regional head alongside Jonty Warneken (head of North), Andrew Lewis (head of Wales & South West) and Robin McAdam (head of Scotland).
Stirrup will concentrate on supporting the intermediaries Brooks works with in order to understand how the DFM can help advisers grow their business.
Neither Pryce-Jones or Stirrup have been with Brooks very long, both joining the company around a year ago. Pryce Jones joined the wealth manager from Raymond James, while Stirrup moved over from Fidelity.
Appointments ‘critical’ to firm’s growth
Robin Eggar, head of UK investment management, said the new roles would play a “critical part” in growing funds under management and helping the firm boost profit margins.
“We strongly believe in recognising and growing talent across our group and I am delighted to announce the promotion of Liam and Gary to these new leadership positions,” Eggar said.
The DFM axed 50 jobs last January as part of a streamlining plan it said would help the group be better equipped to deal with clients’ and advisers’ evolving needs.
Over the first half of its financial year Brooks revealed it had lost a £244m mandate which took net outflows up to £506m. As a result, assets under management remained stuck at £13.1bn.