The company said it was already commonly known as ‘Rathbones’.

The board said that the growth of the group over the last decade had led to a desire for a name that reflected “more accurately the collection of businesses, teams and individuals who form the Rathbones Group today.” 

The 'Brothers' part of its name has been dropped as a result and 'Group' added instead.

The company was founded in Liverpool as a family-run timber merchant business established by the Rathbone family in the 1720s. The firm then moved into shipping and overseas trade before adding money management at the beginning of the last century.

The company’s head office is now in London but it has offices around the country including a major office in Liverpool in the historic Port of Liverpool Building on the waterfront.

The company provides a wide range of financial services covering investment management, Financial Planning, advice to charities and other services. 

The change of name application has been submitted to Companies House but the company says the Company's website, ISIN, SEDOL and ticker code remain unchanged.

Shareholders’ shareholdings will be unaffected by the change and no new share certificates for existing ordinary shares held in certificated form. 

Shareholders should retain their existing share certificates which will continue to be valid, the company said.