Brown Shipley, the UK private bank which is now ultimately owned by Luxembourg-based Precision Capital, has appointed private client director Charles Fotheringham to head its Edinburgh office.

Fotheringham, who will continue to look after his own clients, is taking over from Graham Auld, who retired at the end of August but who still has an ambassadorial role with the firm.

Fotheringham has been with Brown Shipley since December 2011, coming on board following its acquisition of Gillespie Macandrew’s investment management arm. Before joining Gillespie Macandrew he had founded his own fund management business, C Fotheringham & Co, having previously been a private client vice president at Merrill Lynch Europe.

Brown Shipley manages some £250 million ($405 million) in assets for clients in Scotland and the firm has big ambitions to keep growing in the country. Scottish expansion has in fact become a priority for a number of wealth management businesses in recent years, the wealth and investment management arm of Barclays being one example.

Brown Shipley’s parent company, KBL European Private Bankers, was bought by Precision at the start of August for €1 billion. KBL European Private Bankers is a European network of local private banking businesses, of which Brown Shipley is the UK arm.