Wealth manager Brewin Dolphin has hired New Zealander Grant Parkinson as chief operating officer from private bank and wealth manager Coutts.

The 44-year-old will join Brewin Dolphin in August after I’ve years at Coutts, joining Brewin’s executive committee and reporting to David Nicol, chief executive.

Mr Nicol said: “We are extremely pleased to be hiring a person of Grant’s calibre to this vitally important position.

“He has outstanding and relevant commercial experience at both Coutts and before that at Barclays Wealth. He joins at a crucial moment in Brewin’s development where the firm is on a clear growth trajectory, and it is more important than ever to have a seasoned executive in this role.”

New Zealand-born Mr Parkinson worked for a total of 10 years at McKinsey & Company and Barclays Wealth before joining Coutts as executive director in July 2012. In June 2013, he was promoted to the role of chief operating officer. He was also chairman of RBS Asset Management Holdings and a board member of RBS Services (Switzerland). He replaces Thomas Lack who left earlier this year.

He will oversee the company’s operations departments including business support, change delivery, dealing, information technology, premises and facilities management.

Brewin Dolphin had total funds under management of £35.4 billion in the year to 30 September 2016, an increase of 10.6 per cent over the previous financial year. Interim results for the first six months of the current financial year will be announced on 17 May 2017.

The company has 100,000 account holders, including individuals, charities and pension funds and 29 offices across the UK, Channel Islands and Ireland.