British wealth manager Brown Shipley has appointed Toby Vaughan as its new CIO, replacing Don Smith who will leave the firm in order to pursue other opportunities.

Vaughan will assume the new responsibility in October 2018 and join a 50-member team of investment specialists. As CIO, he will be responsible for managing the firm’s research and asset management arm unit.

“With a rich heritage and strong foundations, the business has clear growth plans. I look forward to working with my team and playing an instrumental role in helping take Brown Shipley to the next level,” Vaughan noted.

Vaughan, who has an experience of 17 years in the fund management industry, currently serves as the head of the multi strategy solutions team at Santander Asset Management. He oversaw products with a Defaqto 5 Diamond rating at Santander.

Before joining Santander, he worked as a principal fund manager at LV Asset Management. He also served at F&C Asset Management.

Brown Shipley CEO Alan Mathewson said: “Toby is an experienced Asset Management professional and I look forward to working with him as he further enhances our investment management proposition for our clients.”

The latest appointment is the first senior hire by Brown Shipley CEO Alan Mathewson, who joined in April 2018 replacing Ian Sackfield. Prior to joining Brown Shipley, Mathewson served as the managing director for wealth management and private banking at Santander UK.