Brewin Dolphin, the UK private client investment manager, will next year move into the as yet uncompleted Atria One building in Edinburgh in a move to consolidate three of its existing offices in the Scottish capital.
The three offices to be consolidated are the investment management teams based in Drumsheugh Gardens, Stocktrade, its execution-only broking operation in George Street, and its business support and risk and regulation departments in Princes Street.
The relocation is scheduled for June 2013, after which Brewin will occupy the entire fifth floor, and part of the sixth – a quarter of the Grade A listed building. The firm said the new office will give it further room for expansion.
While expansion plans may be afoot in Edinburgh, it emerged at the end of last month that Brewin had made five redundancies in Aberdeen – job cuts the firm said were made as part of a restructure of the office in line with market requirements.
The redundancies reportedly included one client-facing employee, along with two business development and two administration staff. While Brewin’s Aberdeen office had a headcount of 40 a couple of years ago, this is said to have now dwindled to closer to 25.
In more positive developments, earlier in January the firm strengthened its London office with four senior hires across its financial planning and charities investment management teams.
Nicholas Burt and John Fletcher joined as divisional directors of Brewin's financial planning arm, the former coming across from Rathbones and the latter from SG Hambros.
Meanwhile, Anthony Behrens, who was previously head of charities at Barclays Wealth, joined Brewin's charity team along with Phillip Payne, who also worked at Barclays Wealth as a senior investment manager in the charities team.