Such acquisitions continue Brown Shipley’s drive to boost its private client services following its appointment last October of John Williams, private client divisional director, a spokesman told WealthBriefing following a statement by the bank on the acquisition.
As part of the acquisition, Brown Shipley will appoint Peter Botham, a co-founder of BAM, as its new chief investment officer. Mr Botham set up BAM in January 2006 with his business partner Keith Penfold. BAM is based in Altrincham, near Manchester.
Mr Botham was an investment manager at Manchester stockbrokers Henry Cooke – later acquired by Brown Shipley - prior to joining Liverpool-based Tilney Investment Management as head of UK equities.
In his latest role, Mr Botham takes over from Kevin Doran as Brown Shipley’s CIO. Mr Doran, who has been CIO since July 2004, will concentrate on managing the Brown Shipley Solus Sterling Bond Fund.
Brown Shipley’s history as a private bank dates back almost 200 years. It has client offices in London, Manchester and Leeds, with £2.5 billion ($4.96 billion) funds under management.