Beaufort Investment Management, the discretionary fund management arm of Beaufort Group, has appointed Derrick Dunne as the new CEO.

Dunne succeeds Stewart Murray who departed last year after serving for two months in the role.

Dunne most recently served as the CEO at Sanlam Four, which he founded in 2006. He previously also had stints at Russell Investments, Mercer and Attica MM.

Beaufort Group executive chairman Simon Goldthorpe said: “We are delighted to appoint someone of Derrick’s calibre and experience. Beaufort Investment has grown its funds under management significantly and now has approaching £1bn in funds under management.

“We provide financial advisers, both within the Beaufort Group and external IFAs with excellent service and leading-edge investment propositions. We look forward to developing the business with Derrick.”