Wealth manager Brown Shipley has appointed BNY Mellon veteran and CISI chairman Michael Cole-Fontayn as its new chairman in a move which will see current chair Rory Tapner become chair of parent company, the Luxembourg-based Quintet Private Bank.

Mr Tapner, who was chief executive of Coutts from 2010, replaces retiring Jan Maarten de Jong who has been a Quintet director for three decades and chairman since 2015.

Mr Cole-Fontayn spent more than 35 years at BNY Mellon in a number of senior roles covering brand, strategy, governance and relationships with clients, regulators and policymakers. As chair and CEO of BNY Mellon EMEA, he was a member of the group’s corporate executive and operating committees.

He currently serves on a number of boards including as chair of the Association for Financial Markets in Europe (AFME), chair of the Chartered Institute for Securities and Investment (CISI) - the professional body for Certified Financial Planners - and is a member of TheCityUK Advisory Board and a member of the Fixed Income, Currencies and Commodities Markets Standards Board (FMSB).

He will work with Brown Shipley directors on growth strategies and alignment with the overall group.

Wealth manager Brown Shipley has an expanding Financial Planning operation and has made a number of acquisitions of advice firms including Cambridge and Norwich-based Financial Planner NW Brown earlier this year to create a new East Anglian hub.

Alan Mathewson, chief executive Officer at Brown Shipley, said: “Michael is an influential and well respected leader in financial services, and I’m delighted to welcome him to Brown Shipley. The breadth of his executive and board experience will be invaluable as we continue to develop our business and strategic growth plans.

“I’d also like to take this opportunity to thank Rory for his strategic counsel over the past year. We’ve had a number of significant developments over this period, including the acquisition of NW Brown, our adoption of a new investment platform and our group rebrand to Quintet. We look forward to continuing to benefit from his expertise in his new role at Quintet.”

Mr Cole-Fontayn said: “I look forward to working with Alan and the executive team at an exciting time for Brown Shipley and the wider Quintet group, as Brown Shipley continues to develop ambitious plans for strategic growth and enhancing client propositions.”