Brooks Macdonald has a new chief executive: Former HSBC boss Caroline Connellan says she is eyeing "significant opportunity and change"

 
Oliver Gill
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Brooks Macdonald grew funds under management by 19 per cent in 2016 to £9.3bn (Source: Getty)

The former head of HSBC's premier and wealth division, Caroline Connellan, today formally takes over as the new boss of wealth manager Brooks Macdonald.

Connellan said she was joining Brooks Macdonald "at a time of significant opportunity and change in the wealth management sector".

In March Brooks Macdonald said it had grown its funds under management despite a "really terrible" period that followed the EU referendum last year.

Connellan added: “As we build on this strong foundation and enter the next phase of growth, I will be looking for further opportunities to develop our business.

Read more: Brooks Macdonald names new boss as assets rise 7.5 per cent

My focus will be on enhancing our offering and service levels, developing the efficiency of the business, and continuing to adapt to the fast changing competitive and regulatory landscape.

“I feel passionate about the important role that Brooks Macdonald plays, in partnership with advisers, in helping people plan and save for their future needs. As such, I am looking forward to leading a business that has such a strong track record and reputation in the marketplace.”

A former fund manager with Newton Investment Management in London, Connellan was also previously a group strategy director at Standard Life and wealth and asset management sector consultant with McKinsey.

Connellan's predecessor, Chris Macdonald, will become deputy chairman, subject to regulatory sign-off.

Read more: Wealth manager positive after "really terrible" period following Brexit vote

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