In a statement to the stock exchange, Brewin Dolphin announced the expansion of its executive committee from six to 10, in an effort to increase the representation of “client-facing leaders” on the team.
The firm said the move was consistent with the strategy outlined during a capital markets day in September to promote increased organic growth of funds under management.
Chief executive David Nicol explained that the move to increase the size and client-facing membership of our executive committee comes at a time “when growth is our key focus across the business”.
In the presentation that accompanied that September capital markets day, the firm was clear in its strategy, “maintaining the relationship with clients is key”, it said, because as the pressure on fees rises and the regulatory burden grows, so, increasingly, the value “is in delivering advice”. And, it is only by ensuring it continues to be able to appropriately tailor its proposition, that it will be able to grow that value.
Reinvention to boost growth
Indeed, Ford himself explained to Portfolio Adviser in December last year that his focus in recent times has been on “positioning the business for growth”.
He said: “We have reinvented ourselves in the past five years. We have reshaped the branch networks and have been looking at how to raise margins to fuel growth. Having built this platform, we are outward looking and growth focused.”
As a result of these most recent changes, where previously, Ford had been the only client-facing director on an executive committee of six, now there will be five client-facing members.
Charlie Ferry, who was previously co-head of the firm’s London office, will now have responsibility for Brewin’s private client business in the South East of England.
Stephen Jones will be responsible for all private client business outside the south-east. According to a spokesperson, the firm’s investment research team, headed by Guy Foster, will now also report into him. Previously the reporting line ran to Ford.
Nick Fitzgerald’s role as head of financial planning remains the same, while Robin Beer, who was previously national intermediaries manager, sees responsibility for charities added to his portfolio.
The only new role on the committee is chief of staff, a berth that will now be filled by Paul Jones, who was previously the other co-head of the London office.
The other five members of the committee are CEO, David Nicol; finance director, Andrew Westenberger; chief operating officer, Tom Lack; head of human resources, Richard Buxton; and head of risk, Sue Beckett.
