24 June 2024

BROOKS MACDONALD GROUP PLC

Appointment of Group Chief Executive Officer

Brooks Macdonald Group plc ("The Group", "Brooks Macdonald") announces that Andrew Shepherd has notified the Board of his decision to retire after twenty two years with the Group, and latterly three as Group Chief Executive Officer. The Group is pleased to announce the appointment of Andrea Montague as Group Chief Executive Officer from 1st October 2024, subject to regulatory approval. To ensure a smooth handover of responsibilities, in conjunction with her role of Chief Financial Officer, Andrea has been appointed as Group Chief Executive Officer Designate from 1st July 2024.

Andrea is currently Executive Director and Chief Financial Officer at Brooks Macdonald, having joined the Group in August 2023. Andrea has a breadth of experience in the UK long-term savings and asset management sector, with an extensive board and executive track record. Prior to joining Brooks Macdonald Andrea was most recently Group Chief Risk Officer at Aviva, and Group Chief Financial Controller before that. Andrea also held senior leadership positions at Royal London Group and Standard Life plc.

The Group has commenced a search for the Chief Financial Officer role.

Commenting on the appointment, Maarten Slendebroek, Chairman of Brooks Macdonald, said:

"I am very pleased to announce Andrea's appointment as Group Chief Executive Officer. Andrea joined the Group in 2023 as Chief Financial Officer and as part of the Board's succession planning strategy for the Group Chief Executive Officer role. Nevertheless, the Board has followed a selection process supported by independent consultants which confirmed Andrea as the strongest candidate for the position. Since joining the Group, Andrea has demonstrated a depth of experience, pace and leadership which will be key in her new role and in successfully continuing to drive forward the ambitious growth strategy of which she has been a co-architect with the Board.  

On behalf of the Board, I would like to thank Andrew for his leadership, dedication and commitment to the Group over the past three years as Group Chief Executive Officer and over the last twenty two years with the business. In that time, Andrew has become a respected leader in the wealth management industry. He has been pivotal in shaping the Group over this period, and leaves behind a stronger business. We wish Andrew well for the future."

Andrea Montague, incoming Group Chief Executive Officer, said:

"I am delighted to be appointed Group Chief Executive Officer of Brooks Macdonald. I am looking forward to leading our team to execute our ambitious growth strategy, deliver outstanding service to our clients and create long-term shareholder value."

Andrew Shepherd said:

"Brooks Macdonald has been a fantastic home for me for more than two-thirds of my career and I have had the most incredible time here, making great friends and proudly being part of the growth of a great business. I am delighted that in Andrea we have a successor with all the attributes needed to drive our strategy whilst maintaining the culture that has made Brooks what it is. I wish Andrea and all my colleagues the best for what I am sure will be an exciting and successful future."

Enquiries to:

The information contained within this announcement was previously deemed by the Company to constitute inside information as stipulated by Market Abuse Regulation (EU) No 596/2014 ("EU MAR") and the retained UK law version of EU MAR pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019 (SI 2019/310) ("UK MAR"). With the publication of this announcement via a Regulatory Information Service, this information is now considered to be in the public domain.

Notes to editors

Brooks Macdonald Group plc, through its various subsidiaries, provides leading wealth management services in the UK and internationally. The Group, which was founded in 1991 and began trading on AIM in 2005, had discretionary Funds under Management of £17.9 billion as at 31 March 2024.

Brooks Macdonald offers outsourced discretionary investment management for intermediaries and advice-led integrated wealth management for private clients. The Group also acts as fund manager to a range of onshore and international funds.

The Group has fourteen offices across the UK and Crown Dependencies including London, Birmingham, East Anglia, Exeter, Leeds, Manchester, Nuneaton, Southampton, Tunbridge Wells, Scotland, Wales, Jersey, Guernsey and Isle of Man.

LEI: 213800WRDF8LB8MIEX37

www.brooksmacdonald.com / @BrooksMacdonald