The hike is attributed to the acquisition of Clarke Willmott investment management team, which was completed on 31 October 2011 and resulted in transfer of GBP114.4 million discretionary client assets.
Also, Brooks McDonald has signed a three-year sponsorship deal with Middlesex Country Club.
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Under the deal, the group’s logo will appear on the front, back and collar of the English club’s playing shirt in all the four-day and one-day matches. Brooks Macdonald also will be entitled to an advertising presence at Lord’s.
Middlesex CCC chief executive Vinny Codrington said that it would be a deal to offer financial stability in a time of economic crunch rather than an excuse to spend on contracts and player recruitment.
"Over the course of the last 8-10 years the two division structure created an inflation in player’s wages that was beyond what the market could sustain. So it is a balance between paying that money and yet not allowing it to go too far and saying if you want to chase that money then we can’t afford it," he added.
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