Wealth manager Brooks Macdonald has appointed Karen Charlery as chief operating officer.

She will start her new role from 23 June and replaces Gavin Neilson who has been interim COO since August.

Ms Charlery joins from Blackrock where she was most recently EMEA head of regulatory change.

She has over 20 years of experience in financial services with roles in the technology, operations and regulatory space.

Andrea Montague, CEO of Brooks Macdonald, said: "I am delighted to welcome Karen to Brooks Macdonald and to my executive committee. Her record of success and leading operations and technology will be critical to Brooks Macdonald in the execution of our strategy to reignite growth.

“I want to thank Gavin for taking on the role of Interim COO and for his valuable contributions during his time.”

Brooks Macdonald has been striving to recover after being hit by net outflows in 2023 and cutting 10% of staff.

It said the cuts from its 512-strong workforce were designed to ensure it is, “set up for success, organised to deliver its strategy and drive growth.”

Andrea Montague took over as CEO on 1 October, during which time it has made several acquisitions.

In the past few months it has completed the acquisition of Chartered Financial Planners LIFT-Financial Group Limited and LIFT-Invest for £45m, Welsh Chartered Financial Planning firm CST Wealth Management for an undisclosed sum and £890m AUA Norwich-based Lucas Fettes Financial Planning.

It completed the sale of Brooks Macdonald Asset Management (International) to Canaccord Genuity Wealth during the first quarter. The firm also chose to sell its international operations following a strategic review.

Canaccord paid an initial consideration of £28m, with a further contingent sum of up to £22.85m payable in cash two years post-completion, subject to performance criteria.

Brooks Macdonald recently completed the process of moving its share listing from AIM to the London Stock Exchange main market.

It announced it would make the change in February, in a move that the chief executive Andrea Montague said would “further enhance” the group’s profile and provide more opportunities for investors to hold the company’s shares.