Close Brothers Asset Management appoints Standard Life executive as new boss
Merchant banking group Close Brothers has announced that ex-Standard Life Aberdeen executive Eddy Reynolds will take over as chief executive of its asset management business next week, after boss Martin Brown announced he would step down last year.
Reynolds joins Close Brothers Asset Management (CBAM) from his most recent role as managing director of Standard Life Savings, after holding a number of executive positions at the firm, and earlier working as Head of Investment at Lloyds Private Bank.
Adrian Sainsbury, group chief executive at Close Brothers said Reynolds was the man to lead the Close Brothers Asset Management into a new phase.
“I am delighted to announce the appointment of Eddy Reynolds as the next chief executive of CBAM. He brings outstanding experience and knowledge and will lead a talented team through the next stage of CBAM’s development.”
CBAM manages around £15.6bn from11 offices around the UK, with over 90 advisers, and Reynolds said he would now work to take the division forward.
“I look forward to joining the group and playing my part in the continuing development of a distinctive wealth management business like CBAM, building on the impressive position established over the past years,” he said in a statement.
The appointment comes after outgoing boss Martin Andrew announced in November that he would be stepping down from the role after 16 years at the firm.