Financial Planning firm and wealth manager TrinityBridge, formerly Close Brothers Asset Management, has appointed veteran Financial Planner Nigel Stockton as CEO, subject to regulatory approval.

He will replace Eddie Reynolds who will step down in September after three and a half years in charge.

Mr Stockton stood down as chief executive Financial Planning firm Ascot Lloyd last year after running the business for eight years. He left after private equity firm Nordic Capital acquired the firm.

He had been CEO since September 2015 and oversaw substantial growth of the business in that time including 80 acquisitions. The firm was rebranded from Bellpenny to Ascot Lloyd in 2017.

Mr Stockton said: “TrinityBridge is a very exciting business, already strong and with huge amounts of potential. Clients will remain the heart of what we do, and I am committed to delivering on the business’s pre-existing strategy, focusing on high-quality Financial Planning and bespoke investment management.”

Mr Reynolds, CEO of TrinityBridge, said: “TrinityBridge has an incredibly bright future ahead and I look forward to following its continued success under Nigel’s stewardship as I pass on the baton.”

Mr Reynolds joined TrinityBridge in March 2022 and played a key role in driving the firm’s growth. Under his leadership, the firm expanded significantly with total managed assets increasing from £16bn to £21bn, while the business opened five new offices across the UK.

He also led the firm’s recently announced relocation to a new Marylebone HQ, scheduled for this autumn, and oversaw the acquisition of IFA firm Bottriell Adams LPP in 2023. He also steered the business through its recent acquisition by funds managed by Oaktree Capital Management in September 2024.

Since the completion of the transaction in February, the company has been operating as a standalone and independently run wealth management firm. Close Brothers Asset Management was renamed TrinityBridge in March after former parent Close Brothers Group sold the firm to private equity firm Oaktree Capital Management for £200m.

The firm said the name TrinityBridge was chosen to reflect the “enduring relationships” that exist between clients, their investment managers and their professional advisers. It said it represents strong connections and longevity.

TrinityBridge operates from offices in London, Birmingham, Bristol, Cheltenham, Chester, Chichester, Dorset, Edinburgh, Gatwick, Glasgow, Guernsey, Manchester, Newcastle, Northwich and Winchester.

Oaktree has £160bn in assets under management as of the end of December 2024 and has more than 1,200 employees and offices in 23 cities worldwide.