Brooks Macdonald, the London AIM- listed wealth manager, is launching a new funds business to be headed up by recently-appointed Simon Wombwell.

Wombwell has been named an executive director at the firm; he latterly worked as head of sales and marketing at Scottish Windows Investment Partnership.

The new fund range will consist of Braemar funds that the company acquired last July and four existing Brooks Macdonald funds. 

Brooks Macdonald said the Braemar property management business had grown from £500 million (around $807 million) in July to more than £650 million in its half-yearly report.