The UK provider of wealth management, financial planning and corporate benefit solutions has boosted its executive team with a commercial leadership role.

Ascot Lloyd has hired Ian Balgarnie in the newly created role of chief business development director.

Balgarnie joins from John Lamb Financial Planning, where he was head of private clients for two years. He previously spent four years at Baker Tilly Financial Services, which Towry acquired in 2007. He brings over 30 years of industry experience at a senior management level and as a financial planner, having also worked at Brown Shipley, Platinum Portfolio and Wesleyan Financial Services.

The hire follows that of Iain Balchin, who became the firm's first chief financial officer in February, as well as the recent appointments of Stuart Dyer and Patrick Muir as non-executive directors.

“Ian’s knowledge and experience of private client relationship management will strengthen our team and enable us to enhance the quality of our offering. He will drive sales growth and profitability at an exciting time in our development,” said Richard Dunbabin, chief executive at Ascot Lloyd.

The Wokingham-headquartered firm manages £2 billion ($2.9 billion) from its network of UK offices.