Wealth management musical chairs continues

Mackenzie is one of the first senior figures to depart the Edinburgh office following Investec’s £233 million acquisition of parent company Evolution.

Mackenzie has been an investment manager at the firm since April 2008, and will join Rathbones in a similar role. He also worked for Gerrard Investment Management and Scottish Life.

Rathbones’ team of 16 investment managers and directors among a staff of about 40 and seven in Aberdeen have built a portfolio of £1.8 billion of funds under management. A spokesman confirmed Mackenzie’s move. “The culture at Rathbones is very important in finding the right people to join us,” he said.

Williams de Broe’s Edinburgh team, managing just under £500m in funds, was boosted last autumn when it hired business development executives Jacqueline Morton from Skandia in Glasgow and Alisdair Hogg from Bank of Ireland in Dublin.

Chief executive Philip Howell said it indicated its commitment to expand in Scotland.

Williams de Broe set up Edinburgh in 2008 with 20 staff defectors from Barclays Wealth. Headed by executive director Murray Mackay, the office now has about 35 staff,