Changes at the top for top Scottish businesses

THREE of Scotland's venerable professional practices yesterday announced changes at the top.

Magnus Swanson is to step down as chief executive of Maclay Murray & Spens (MMS) after nine years at the helm of the "big four" Scottish law firm to make way for newly-appointed Chris Smylie, pictured right.

News of the change came as accountancy firm Johnston Carmichael announced that Andrew Shepherd, managing partner of its Edinburgh office, will replace James Campbell as chairman, while investment management stalwart Baillie Gifford named Andrew Telfer as successor to joint senior partner Alex Callander.

London-based Smylie, who joined MMS in 2000, will step into Swanson's shoes on 1 June, following the end of firm's financial year.

Swanson will return to the practice's corporate law department as a partner, having completed a hat-trick of three-year terms as chief executive. MMS, which was founded in 1871, has four offices in the UK, with 67 partners and more than 500 staff.

Johnston Carmichael, which celebrates its 75th anniversary this year, said Campbell will remain with the firm as a partner, working on the accounts of some of its largest clients.

Shepherd joined the firm - which has ten offices in Scotland and some 420 staff - in 1994 and advises family businesses and landed estates.

At Baillie Gifford, Callander will retire in April next year following 30-years of service with the firm, including 11 years as joint senior partner.

The investment manager, founded in 1908, has also promoted three members of staff to partnership level.

The trio - Malcolm MacColl, Bill Pacula and David Salter - take the size of the partnership up to 37.

Pacula, who leads a team of four people in New York, is the first overseas partner at the firm, which has about 670 staff.