Former Brewin Dolphin non-executive director David Nicol has been named as the firm’s new CEO replacing executive chairman Jamie Matheson who has stepped down after eight years in the role.

Nicol, a member of the board since March 2012, is a chartered accountant with experience in operations and finance roles in Morgan Stanley.

He was appointed a director of Morgan Stanley International in 2004 and served on the board until 2010.

Simon Miller, who joined the board in October 2005 and has been deputy > chairman since February 2012, is the newly appointed non-executive chairman of the investment management firm.

"Since Jamie’s appointment as executive chairman Brewin Dolphin shares have outperformed the FTSE All Share index and delivered a total return of 170%. He will be sorely missed", said Miller.

Additionally, Stephen Ford has been appointed an executive director, responsible for investment management, and will report to Nicol.

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Barry Howard will also report to Nicol leading the regulatory and risk functions.

As a result of these changes, Henry Algeo, Ben Speke and Sarah Soar have stepped down from the board.