Brooks Macdonald International reports rise in new business flows in 2017

Thursday 22 March 2018

The Channel Islands subsidiary of independent investment manager Brooks Macdonald has seen an increase in net new business in 2017, making a good contribution to the Group’s overall performance, according to the firm’s latest financial report.

The report confirms that the value of funds under management (FUM) in the Channel Islands grew by 9.1% over the second half of 2017 and highlights that revenues generated by the firm’s Jersey and Guernsey offices grew by 3% year-on-year, representing around 14% of the Group’s total revenues over the period.

Across the Group, Brooks Macdonald saw a 25.8% increase in total discretionary FUM, reaching £11.7bn at 31 December, and a 10.9% increase in revenue, driven by growth across its UK investment and funds businesses as well as its International division.

Commenting on the report, Darren Zaman, CEO, International, Brooks Macdonald, said: “Through our Guernsey and Jersey offices, we are leading Brooks Macdonald’s international strategy by investing significantly in building strong relationships with clients and advisers in key overseas markets, including the Middle East and Africa. As a result net new business is growing strongly increasing the value of our discretionary funds under management and our revenues, which are contributing significantly to the Group’s overall growth.

“Meanwhile, we are proactively and decisively dealing with some historic issues and our focus remains on treating customers fairly and seeking to protect our clients’ best interests so that we can look forward to the future of our business and building on our successful growth. We have a strong pipeline of new business and are confident of our prospects for the full year ahead.”