Brooks Macdonald has promoted Richard Larner and Michael Toolan as joint chief investment officers (CIO). The pair replace Edward Park, who Citywire Wealth revealed this month is to leave after 15 years with the firm. Collectively, Larner and Toolan have 35 years of experience with Brooks.

Larner, who is head of research at the firm, arrived from Spearpoint in 2012. Toolan, who joined Brooks in 1999, is a senior portfolio director. Brooks has also appointed former HSBC CIO Philip Glaze as chair of the business?s investment committee.

Glaze worked as CIO at HSBC Global Asset Management for more than 10 years before his retirement in March 2020. He is already an external member of the committee. The appointment comes amid a restructure at Brooks.

The firm announced last year it was cutting 55 jobs.