The UK's Association of Private Client Investment Managers and Stockbrokers has named as its new chairman Tim Ingram, chairman of UK-listed RSM Tenon, the troubled advisory and accountancy firm.

Ingram succeeds John Hall, who is stepping down at the end of this month after six years in the role.

Ingram previously served as chairman of Collins Stewart Hawkpoint and as a non-executive director at Savills and Alliance Trust. In his earlier career he was chief executive of Caledonia Investments, managing director of Abbey National and chief executive of First National Corporation.

APCIMS represents 182 firms which collectively manage £500 billion (£803 billion) in client money.