Walker Crips, a UK-based wealth management firm, is set to launch a new office in Swansea, Wales by early 2014.

The firm has hired ex-BlackRock duo Andrew Morgan and Gary Waite to head the new Swansea office.

The opening of the new office is part of the firm’s plans to expand its presence in Wales.

Mark Rushton, CIO at Walker Crips, said that the new office will offer investment management capabilities to wider clients and is part of our proposed regional expansion.

Prior to joining Walker Crips, Morgan most recently served as assistant director of Brewin Dolphin’s Swansea office prior to its closure earlier this year. Earlier to this, Morgan worked at BlackRock as a portfolio specialist.

Waite has also previously worked at BlackRock, where he was part of the European specialist team.

In July this year, Brewin has shut down its Swansea office following the merger of its functions with its Cardiff office. Additionally, it has closed offices in Inverness, Hereford and Stoke this year.

"Andrew Morgan and Gary Waite bring a wealth of industry experience having both worked for BlackRock in the past. The official launch will take place in the New Year," added Rushton.