Birmingham mutual the Wesleyan has expanded its space in the city's financial district amid new growth plans.

The financial products and advice provider has taken space on the eighth floor of Colmore Gate, in Colmore Row.

The firm has seen a 400 per cent increase in new business since it first unveiled ambitious expansion plans almost 10 years ago.

The society has said it will continue on its upward trajectory by expanding the financial services it delivers to doctors, dentists, lawyers and teachers and through targeted acquisitions.

The pledge was made as the Birmingham-based mutual announced an overhaul of the business which will see separate divisions united under a common Wesleyan brand and major investment in new technology in a bid to help it "operate more effectively in the digital environment".

The changes follow a sustained period of growth since 2005 when Wesleyan unveiled a 10-year plan that was achieved earlier than planned.

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Chief executive Craig Errington told the Post: "The society has had great success over a number of years now. We set out growth ambitions back in 2005, many of which we achieved ahead of schedule.

"We have been looking at the next stage of the organisation's development, a step change that can be delivered through careful growth.

"We are now pursuing those plans and believe there is significant opportunity for the society to grow and develop within our specialist marketplaces.

"We have grown new business by some 400 per cent since 2005, seeing real growth through most of those years.

But Mr Errington said prudence would remain at the heart of Wesleyan's growth strategy, particularly when it came to acquisitions.

He added: "We are very prudent in terms of how we grow the business. In terms of acquisitions, we look very carefully, look over a number of years and it must be something that fits our strategy.

"If we can find other businesses that fit properly with the organisations and markets we serve, then we can make further acquisitions but a lot of growth will come from organic activity - seeing more of our customers, seeing them more frequently and serving the needs they have.

"Part of that will be bringing new products and services to them and reviewing their circumstances on a regular basis."

Wesleyan Assurance Society, which was founded in 1841, provides financial products and advice for clients operating throughout the professional market, including the medical, dental, teaching and legal sectors.

The 6,215 sq ft of space taken at Colmore Gate is in addition to the adjacent Wesleyan Building.