Brooks Macdonald has named Michael Toolan, a senior portfolio director, as co-chief investment officer (CIO), together with Richard Larner, the head of research.

Larner and Toolan succeed Edward Park, whom they have collaborated extensively with in recent years as part of the firm’s long-term succession strategy.

These appointments highlight the firm’s dedication to consistency, which has been a significant factor in its accomplishments.

Both Toolan and Larner were instrumental in developing the group’s industry-leading central investment process, and they bring three decades of combined Brooks Macdonald investing experience to their new positions.

Their primary responsibility will be to lead a competent team of investment experts and supervise Brooks Macdonald’s rigorous investment proposition. They will be reporting to CEO Andrew Shepherd.

Furthermore, Philip Glaze will be named chair of Brooks Macdonald’s investment committee.

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Glaze, who previously served as chief investment officer at HSBC Global Asset Management, is already an external member of the committee.

His duty will be to ensure that the company’s investing policies and house view are understood and upheld by all employees.

Shepherd commented: “Richard and Michael’s appointments are a testament to the strength of the firm’s talent and demonstrate our ability to retain and develop our best people. Both have shown strong investment acumen and leadership skills over the years and have a deep understanding of our investment proposition. They are the right people to drive robust investment performance for our clients. I am also delighted that Philip has agreed to chair our investment committee.”

In addition to these positions, Mark O’Connor was recently appointed to the newly created position of managing director for the Channel Islands and Isle of Man.

Instead of focusing on geography, the firm is shifting its attention to its two distribution channels: direct to private consumers and financial advisers.