Brooks Macdonald CEO Andrew Shepherd has announced today that he will retire from his role as group chief executive officer, after 22 years with the firm in what he calls a “bittersweet” decision.
The company’s chief financial officer Andrea Montague will take on the role as CEO of Brooks MacDonald from 1 October 2024, subject to regulatory approval.
Montague, who is also executive director at Brooks Macdonald, joined the company in 2023, as reported. Prior to joining the company, she was also group chief risk officer at Aviva and has also held senior roles at Standard Life and Royal London Group.
‘Incredible journey’
Posting on his LinkedIn page Shepherd, pictured above, said in a heartfelt statement: “Today I am announcing a bittersweet decision. After an incredible journey spanning 22 years with Brooks Macdonald, including seven years as UK Managing Director, two as International CEO and three as Group CEO, I have taken the decision to retire at the end of the month. Whilst I am going to greatly miss being part of Brooks Macdonald on a day to day basis, I know in my heart that this is the right time for the business and for me and my family, and I am really looking forward to relaxing after the intensity of the last few years.
‘Strength to strength’
“It’s been an honour to lead this exceptional group of people, and to hold the tiller for a period in the company’s history. I have no doubt it will go from strength to strength under my successor Andrea Montague’s leadership and I look forward to watching on!
I am immensely grateful for the support and dedication of all my colleagues, past and present, and our community of advisers and clients. Thank you all for being a part of what has been a hugely enjoyable journey.”
In accepting her new role Montague said she is “delighted” to be appointed group chief executive officer of Brooks Macdonald. “I am looking forward to leading our team to execute our ambitious growth strategy, deliver outstanding service to our clients and create long-term shareholder value,” she said.
Maarten Slendebroek, chair of Brooks Macdonald, said: “I am very pleased to announce Andrea’s appointment as group chief executive officer. The board has followed a selection process supported by independent consultants which confirmed Andrea as the strongest candidate for the position. Since joining the group, Andrea has demonstrated a depth of experience, pace and leadership which will be key in her new role and in successfully continuing to drive forward the ambitious growth strategy of which she has been a co-architect with the board.”
Slendebroek thanked Shepherd for his “leadership, dedication and commitment” to the group over the past three years as group chief executive officer and over the last 22 years with the business.
“In that time, Andrew has become a respected leader in the wealth management industry. He has been pivotal in shaping the group over this period, and leaves behind a stronger business. We wish Andrew well for the future,” he added.
