Close Brothers Asset Management's Deryck Noble-Nesbitt is to leave the group following a recent review of the group's operations.

Noble-Nesbitt was appointed head of the group's tailored portfolio service earlier last year and also ran the Beacon Investment and Special Situations funds, which the group recently announced would be closed in August.

"Close Brothers Asset Management conducts regular reviews across its business. As part of this review process, chief investment officer Nancy Curtin, chief investment officer, has recently conducted an exercise within the investment management function," the group said in a statement.

The teams currently running the close discretionary funds and the tailored portfolio services will be combined into a single team under the direct management of Curtin.

The group said that Curtin was currently working with the team to refine this new structure.

Noble-Nesbitt also ran the Beacon Investment and Special Situations funds, which the group recently announced would be closed in August.