Andjel is a portfolio manager and previously served as deputy dead of UK Private Clients and Charities. Prior to joining Brown Advisory in 2016, he was a portfolio director at GAM Investments, responsible for a broad range of private and charity clients. Nick’s career also includes roles at Goldman Sachs, Barclays and Barings Asset Management.

Brown Advisory’s international presence, established by Logie Fitzwilliams in 2007, comprises around $30bn in client assets. Of this, the Private Client and Charity AUM is $4.5bn. The dedicated Private Client team has grown to 25 colleagues, including 14 portfolio managers and investment professionals. They design and manage bespoke investment portfolios for a client base of individuals, charities, family offices, endowments, and foundations, often dealing with complex and multi-jurisdiction financial considerations.

Quintin Ings-Chambers, head of International Business at Brown Advisory, said: “We are delighted that Nick will be taking over as Head of UK Private Clients and Charities at Brown Advisory and look forward to him building on the excellent service and counsel he has provided to our clients over the past eight years. Brown Advisory is a client first firm, focused on the highest levels of service and performance and Nick has shown exemplary leadership in this respect.”

Logie Fitzwilliams, Co-CEO of Brown Advisory, said: “I’d like to congratulate both Quintin and Nick on their appointments as Head of International Business and Head of UK Private Clients and Charities, respectively. I have worked closely with both for many years in London and have seen them provide our private clients with the highest standard of service and advice. I also have no doubt that the International Business, and Private Clients, will continue to succeed under their leadership.”

Quintin joined Brown Advisory in 2012 and most latterly was head of the firm’s International Private Clients and Charities team. Prior to joining Brown Advisory, he was an investment director at SG Hambros and a director in the private client and charity group of Barings Asset Management. His earlier career was at Rensburg Sheppards where he was a member of the group’s asset allocation committee and managed a multi-manager unit trust.

London serves as the international business headquarters and comprises global equity and fixed income teams, a UK private clients and strategic advisory team, and a significant business development effort. From London, the firm launched its UCITs funds business based in Dublin and opened offices in Frankfurt, Singapore, and Tokyo to better serve the European, Asian and Australian regions.

Effective immediately, Mike Hankin (pictured right) and Logie Fitzwilliams (pictured left) will share chief executive responsibilities.

Hankin has served as the sole CEO and president since the firm became private and independent in 1998. Logie Fitzwilliams started with Brown Advisory in 2003, and has most recently served as the head of international business and global head of sales.

Together, the firm’s independent board of directors and Hankin decided that a Co-CEO structure would be the best design to provide the leadership needed to meet the growing needs of the firm’s clients, colleagues and shareholders.

As a team, Hankin and Fitzwilliams, who have worked closely together for the last 15 years, will deepen the firm’s partnership and collaborative culture to drive results for all stakeholders. This evolution represents the most significant change in Brown Advisory’s leadership since the firm adopted its current private, independent structure in 1998.

As Co-CEOs – and Co-Presidents – they both will serve on, and report to, the board that governs the firm.

Hankin said: “I could not be more excited about this natural next step in the leadership of the firm. In the building of a global investment team and business to complement what we have been cultivating in the US, Logie has led with the qualities that we think make him the ideal person to share responsibility for leadership of the entire firm.

“He understands that to be truly client first, we need to be obsessively focused on listening to our clients in the U.S. and around the world. He understands that to build successful teams, we need to also listen to our colleagues. We need to make sure that our colleagues have the resources and training necessary to live up to our clients’ expectations.”

He added, “Importantly, Logie and I share the existential commitment to Brown Advisory remaining a private and independent firm. Our ownership structure – where every single colleague owns equity in the firm alongside an important set of outside shareholders who provide critical advice and support – will remain the same; it is the structural backbone to being the client-first firm we aspire to be over generations.”

Fitzwilliams said: “It is a tremendous honor to join Mike in the leadership of Brown Advisory. Throughout my 22 years at the firm, I have been privileged to work with him closely and we have built a deep relationship that will serve as the foundation for our partnership as Co-CEOs. Most importantly, from the outset we have had a shared focus on investing for, advising, and serving our clients at the highest
possible level, and a common commitment to the future of Brown Advisory as a private, independent, entrepreneurial and nimble business.”

Bob Flanagan, lead director of the Brown Advisory Board, said: “The process and thinking behind this decision was extensive, productive and always forward looking. We considered many options and scenarios to ensure that Brown Advisory had the best leadership in place for the present and future. Each of us believe that the firm, its clients and its colleagues will be best served with Mike and Logie acting as CEOs,
together.”

Bea Hollond, director and chair of the firm’s International Advisory Board added: “Being based in the U.K., I have had the direct opportunity to work with and advise Logie on the firm’s international business strategy. I have seen first-hand the incredible impact he has made for Brown Advisory and its clients. I know the Directors all share my excitement in welcoming Logie to the Board, and to seeing Mike and Logie work together as a team.”

Under Hankin’s leadership, the firm has grown from overseeing client assets of $2bn in 1998 to now almost $170bn– representing an annualized growth rate of 17%. Today, the firm’s clients are served by nearly 1,000 colleagues located in 14 offices across the United States, a significant office in London and strategic bases in Frankfurt, Singapore, and Tokyo.

The firm’s clients—a collection of individuals, families, nonprofits, charities, institutions and financial intermediaries—are located in 51 countries and in every U.S. state. Brown Advisory also manages fund platforms – private funds, mutual funds and now ETFs – in the U.S., as well as platforms outside of the U.S. in Ireland, Bermuda and the Cayman Islands.

Quintin Ings-Chambers will take over as head of the international business. He joined Brown Advisory in 2012 as Head of the firm’s International Private Client and Charity business. He has over 25 years of investment industry experience. Prior to joining Brown Advisory, he served as an Investment Director at SG Hambros and as a Director in the private client and charity group of Baring Asset Management.

He will report into Logie Fitzwilliams.

Kim joins from Fullerton Asset Management in Singapore, where he was predominantly responsible for establishing a presence and growing sales in South Korea, a growing market for Brown Advisory. Prior to that he worked at J.P. Morgan Asset Management for eight years.

His expertise and knowledge of the investment landscape will help Brown Advisory further penetrate this key geographic region, where the firm has been seeing demand for its US and Global solutions.

Working closely with Walter Beckett (Head of APAC) and his team, Kim will create new opportunities for Brown Advisory’s investment strategies across his existing contact base of institutional investors and financial intermediaries. He will help to open up new markets where the firm has previously had little coverage.

Having established a presence in Singapore in 2019, Brown Advisory recently passed $3.5bn of assets managed out of the region.

In 2023 the firm opened a Tokyo office, appointing Toshiyuki Murasawa as Head of Distribution in Japan.

Walter Beckett, head of APAC at Brown Advisory, said: “We have been investing in our team to service a growing client base in APAC and further develop important markets across the region. We are delighted that Yoon Bean, with his knowledge of the regional investment landscape, has joined us at Brown Advisory to build out the business in North Asia.

“Our expanding team here in APAC means we are able to serve our existing client base better than ever while at the same time offering Brown Advisory’s investment capabilities to a broader range of potential partners.”

Kim said: “Brown Advisory has developed an outstanding reputation across the APAC region and I am thrilled to join the team and contribute to the firm’s growth. There is considerable appetite across Asia for established US and global equity and fixed income strategies with strong track records, which Brown Advisory is able to deliver. I look forward to playing a role in growing our presence in APAC, particularly key geographies such as South Korea.”

The strategies, including the BNY Mellon Global Dynamic Bond, BNY Mellon Sustainable Global Dynamic Bond and BNY Mellon Global Dynamic Bond Income fund, were placed under suspension in June 2023. Ella Hoxha, formerly at Pictet, took over as fund manager in December of last year.

Square Mile stated that after meeting with Hoxha and discussing the changes to the portfolios, its team believes “it will take time to fully appreciate the impact of those changes”. In addition, Square Mile found the medium-term returns “not in line with expectations”, resulting in the funds’ removals.

Jupiter Value funds, including the AAA-rated Jupiter UK Special Situations fund and A-rated Jupiter Global Value Equity fund, were suspended after Ben Whitmore and Dermot Murphy announced their departure for July 2024 to create their own investment boutique. While JO Hambro Capital Management’s Alex Savvides will take on the UK equities portion of the funds, there is still discussion over the global equity assets and whether they will transfer with Whitmore, Square Mile said.

See also: RLAM and Artemis funds added to Square Mile academy

Despite the three funds dropped from BNY Mellon, the BNY Mellon Futurelegacy fund range gained a responsible Positive Prospect rating. The group of five funds are managed by Newton Investment Management and launched in February of last year.

“In what is an under-represented area of the market, Square Mile believes this range has all the attributes necessary to provide competitive long-term returns while following the team’s sustainable investment approach,” Square Mile stated.

The Brown Advisory Global Leaders fund was awarded an AA rating, managed by Mick Dillon and Bertie Thomson. The fund, launched in 2015, comprises 30 to 40 holdings which Square Mile claims is “differentiated from its peers and a very solid offering for long-term investors”.

Aikya Global Emerging Markets gained a Responsible A rating while Rathbone Greenbank Multi-Asset portfolios obtained a responsible recommended rating.

Three strategies, the CT UK Social Bond fund, Artemis SmartGARP Global Emerging Markets Equity fund, and WS Montanaro UK Income fund retained their ratings despite changes in management.

In total, Square Mile conducted 52 interviews with 31 asset management groups in the month of January.

This article was written for our sister title Portfolio Adviser