A stockbroker and wealth management company has opened a new base in Birmingham city centre as part of its plans to target expansion outside the capital.
Walker Crips, which was founded in 1914 and is headquartered in London, has recruited a new team for the Colmore Row office which is being led by investment director Clive Duckitt.
He was previously a partner at Fyshe Horton Finney and has experience managing client portfolios on both a discretionary and advisory basis while his father Dennis was once a president and chairman of the Birmingham Stock Exchange.
Walker Crips previously had an office in Knowle, Solihull, but will retain a presence in the town by holding a monthly drop-in clinic.
Also joining the Birmingham office will be father and daughter Roger Shepherd and Jenny Lomas who were previously based in Knowle and who will be running the drop-in clinics.
Mr Shepherd has more than 40 years of stockbroking experience in the City of London and the Birmingham area.
Completing the stockbroking team will be Northampton and Birmingham-based Peter Thompson and Jonathan Brown while Barbara Twyford and Kathryn Duffy will lead the probate department and provide back office support.
All four of them previously worked with Mr Duckitt at Fyshe Horton Finney.
The firm said the Birmingham office would be working with corporate and private clients and would not apply restrictions to smaller portfolios.
Mr Duckitt said: "The timing of the opening of Walker Crips' Birmingham office coincides with the long-awaited upturn in the UK economy.
"The chancellor's Budget proposals to raise the ISA subscription allowance to £15,000 and allow the transfer between cash and share ISAs provide welcome flexibility and the opportunity to participate in the UK's economic revival."
Walker Crips Group plc is listed on the London Stock Exchange and comprises six business units.
In its half-year results posted in November, the company said revenue increased by 10 per cent to £9.7 million but pre-tax profit fell from £7.7 million to £2.2 million, due mainly to a £10.4 million windfall from disposing of a subsidiary the previous year.
Chairman David Gelber said at the time: "Our strategy is clearly being executed successfully and this is becoming increasingly widely recognised.
"The results of refocusing and building the group's investment management division and expanding its wealth management division continue to be ahead of our expectations.
"Targeted regional expansion is gathering pace to complement the growing team of advisers in London and in York."