Brooks Macdonald

Replaced by Caroline Connellan from HSBC UK wealth

Parento clients given access to DFM

Includes asset management and funds arms

Will improve profitability over medium term

Brooks Macdonald has seen an increase in its funds under management over its financial third quarter, driven by new discretionary business.

Wealth manager Brooks Macdonald expects its funds business to break even in the second half of its financial year, and will turn a profit for the first time in 2015-16.

This week's events, hires (and a joke)

Infrastructure: How sustainable are yields?

Brooks Macdonald said today it will complete a deal to buy risk-adjusted funds house Levitas Investment Management "imminently" after reporting another jump in discretionary assets under management.

Brooks Macdonald's asset management business has acquired Jersey-based DPZ in a deal that will add a further £360m to its discretionary AUM.