Cazenove Capital, the wealth management arm of Schroders, has appointed Mary-Anne Daly as its new CEO in the UK.

Daly replaces Andrew Ross, who assumed the role of global head of wealth management at Schroders earlier in 2017.

Daly joined Cazenove in 2001, the same year when Ross too joined the firm. Daly previously also served as the head of private client service at Baring Asset Management.

Commenting on Daly’s appointment, Ross stated: “Mary-Anne and I joined Cazenove Capital in 2001 when assets under management were £10bn, and today they are just over £40bn globally. During this time we have seen significant change, in particular the coming together of Schroders and Cazenove Capital’s wealth businesses and the successful integration of C.Hoare & Co.’s wealth management team.

“I am confident that our UK business will continue to thrive under Mary-Anne’s leadership.”