Accountancy and financial advisory group Smith & Williamson has hired Tracey Townsend as an investment manager in its Birmingham office, which opened in September 2008. Ms Townsend will be responsible for the execution-only and probate valuation services team.

Ms Townsend joins from Barclays Wealth, where she was in charge of the execution-only team.

The client base of Smith & Williamson Investment Management primarily includes private individuals, related trusts, SIPPs (self invested personal pensions) and other personal and corporate pensions as well as charities. Private client portfolios managed on a discretionary basis account for some 75 per cent of total funds.

The Birmingham-based investment management team has the support of the firm’s broader business which includes an investment management house and private bank.