Wealth and investment manager Brooks Macdonald has recruited former Jupiter chief executive Maarten Slendebroek as chairman, subject to regulatory approval.

Nichola Pease has stepped down as chair of fund manager Jupiter with immediate effect.

 Jupiter Fund Management said assets under management (AUM) increased £600m in the first quarter of the year to £50.8bn, largely due to positive market movement of £1.5bn.

Full-year profits at fund manager Jupiter slumped more than two-thirds in 2022, falling 68% to £58m.