Andrea Montague was named CEO at Brooks Macdonald after Andrew Shepherd said he intends to retire, according to a news release.
The U.K. asset manager confirmed that Montague, currently the company’s chief financial officer, will become the designated CEO on July 1 and formally take on the role Oct. 1, subject to regulatory approvals. A Brooks Macdonald spokesperson confirmed a search is underway for Montague’s replacement as CFO.
Before joining Brooks Macdonald in August, Montague was Aviva's chief risk officer, a role since taken on by James Hillman. Montague has also previously held leadership positions at Royal London Group and Standard Life.
Shepherd is retiring after 22 years with the firm, having served as CEO for the past three years.
Brooks Macdonald had £17.9 billion ($22.8 billion) in assets under management as of March 31.
