Close Brothers Asset Management has hired David Mellett and Ben Staniforth to boost its advice presence in the North, Midlands and South West.

Both join the investment and advice firm as managing directors.

Mr Staniforth joins Close Brothers from Chase de Vere where he managed a team of Financial Planners.

He will split his time across the Midlands and South West and will be responsible for growing Close Brothers’ high net worth advice capability across those areas.

Mr Mellet joins from Santander Private Bank where he was regional director across the North for seven years.

He will be based in the North of England and will be focused on growing Close Brothers’ presence in the North West as well as improving capabilities for high net worth clients.

Close Brothers said the hires demonstrate its regional commitment to bespoke advice services as it strengthens its leadership team.

John Edmeads, head of advice at Close Brothers Asset Management, said: “We are delighted to have David and Ben join our flourishing senior leadership team. Both have incredibly successful careers across the advice industry and have built up a wide pool of contacts and clients. We are confident CBAM will benefit from their experience and expertise.

“We are focused on continuing to build our rapidly growing regional presence, offering clients a valuable personal and local connection with advice experts. Attracting the top talent from across the industry is vital, to ensure we continue to offer the highest levels of service.”

Close Brothers Asset Management is part of the UK merchant banking group Close Brothers Group. It provides advice, investment management, and self-directed services to private clients and professional advisers.

Net inflows increased 8% for Close Brothers Asset Management for the six months ending 31 January.

Adjusted operating profit rose 18% to £14.5m.

The asset management and advice division of Close Brothers also saw a 14% growth in income.

The wealth management firm and fund manager acquired Chartered Financial Planning partnership PWN Financial Management LLP for an undisclosed sum in July.

In March Close Brothers Asset Management appointed a new CEO following the departure of Martin Andrew who worked with the wealth and asset management firm for 16 years.

Former Standard Life Savings MD Eddy Reynolds joined the firm earlier in March.