Following the retirement of his predecessor, Richard Pott, Irwin Mitchell’s financial planning firm IM Asset Management has appointed established wealth manager Stewart Sanderson as its new CEO (subject to regulatory approval).

Sanderson joins IM Asset Management from Brooks Macdonald, where he was a senior director responsible for leading the UK private client strategy and assisting important customers on their overall wealth management requirements.

He has worked in wealth management in the UK for over two decades, having held positions at Seven Investment Management LLP, Lloyds Private Banking, and Coutts & Co.

Sanderson has also created and oversaw the development of other private client companies in Jersey, Edinburgh, and London.

In addition to being a fellow of the chartered institute for securities & investment (Chartered FCSI), Sanderson possesses multiple industry qualifications.

IM Asset Management manages around £1.2bn ($1.5bn) in assets for its clients, who include high net worth individuals from the business and sports worlds as well as those who have received damages after suffering severe injuries.

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Simon Hynes, chair of IMAML, said: “We want to thank Richard for his outstanding service to IM Asset Management. His legacy is in building the strong business we have today. Net Promoter Scores are truly impressive and the financial contribution to the Irwin Mitchell Group has become increasingly significant over Richard’s tenure.  IM Asset Management colleagues and clients will certainly miss him, and we all wish him well in his retirement.

“Equally, Stewart has tremendous experience in growing private client businesses and his expertise will be invaluable as we seek to grow our share of the broader wealth management market.”

Stewart added: “It’s an exciting time to join IM Asset Management Limited. They have a strong flow of AUM coming into the business. The team has expanded in recent years through M&A activity and there is a great opportunity to bring all of our expertise together and grow the business significantly.”

Furthermore, Lynzi Harrison was named as a new non-executive director (NED) by IM Asset Management Limited in January.

Harrison brings a wealth of expertise to the table, having spent more than 25 years working in mutual/friendlies (LV=) and major corporates (Old Mutual) in leadership and board-level capacities.

She also has a wealth of experience from her many years of employment in financial and professional services organisations as a NED.