She will join the business in March.

She replaces Duncan Gwyther and Alan McIntosh who are both retiring after a combined 53 years with Quilter Cheviot.

Ms Simmons joins from UBS Global Wealth Management where she has been CIO of its UK wealth management business since 2020.

She has spent over 20 years at UBS in various roles since joining the firm as a fund and equity analyst.

At Quilter Cheviot she will be responsible for the firm’s investment process, as well as the day-to-day management of the equity, fund and fixed interest research teams.

Ms Simmons will join the executive committee and report to chief executive Andrew McGlone.

Mr McGlone said she would bring “a fresh perspective” to the business and its investment process.

Ms Simmons said: “I am really excited to be joining Quilter Cheviot at a time when the business is adapting to the changing face of client needs in the UK and its other selected markets. Investment decisions play a crucial role in people’s financial plans so I am looking forward to working with colleagues in Quilter Cheviot’s highly experienced research, investment management and financial planning teams to implement the best ideas on behalf of clients.”

In September Quilter Cheviot announced it is to launch a Financial Planning proposition for international clients from its Jersey office.

The wealth manager said the addition of Financial Planning capabilities at its Jersey office ensures it can offer international clients an integrated wealth management offering comprising of both Financial Planning and investment management.

In 2022 Quilter Cheviot Europe established a Financial Planning operation from its Dublin office to serve European clients.

UK national advice business Quilter Private Client Advisers became part of Quilter Cheviot in 2021.

Quilter Cheviot is part of Quilter plc. Quilter encompasses the Financial Planning businesses, Quilter Financial Planning, the Quilter investment platform and Quilter Investors, the multi-asset investment solutions business. Quilter Cheviot includes the discretionary fund management business, Quilter Cheviot, together with Quilter Private Client Advisers.

• An earlier version of this story incorrectly stated Caroline Simmons new role. Apologies for the error.