Thomas Miller has announced it has promoted David Thomas to chairman of Thomas Miller Investment (Isle of Man) Limited and Tom Richards to managing director of the business.
David, who joined Thomas Miller in 2008, takes over the chairmanship from Ian Jarrett who retires in July this year.
Ian remains chairman of Thomas Miller (Isle of Man) Limited until his retirement.
Tom joined Thomas Miller Investment in 2012 as head of private investment management (Offshore) and has sat on the Board since 2013.
The moves follow a busy period which has seen significant growth over the past few years.
Assets under management and locally employed staff numbers have continued to expand as the business has attracted on and off island clients.
Mr Thomas said: ‘Throughout my time at Thomas Miller Investment I have admired the strength of the company’s business and brand.
‘It is a privilege to become chairman of the board and I look forward to continuing to work with the board and staff alike to deliver on our strategy for growth.
‘As managing director, Tom will be responsible for the leadership and development of our investment business here on the Isle of Man.
‘He will play a key role in defining and meeting the company’s goals as well as building on the firm’s reputation for service, delivery and performance.’ Tom Richards said: ‘Thomas Miller Investment has a valued reputation as a leading discretionary investment manager.
‘We have solid foundations in place and a tremendous opportunity to further develop our offering to continue meeting our private and institutional clients’ exacting requirements. I look forward to working with the Isle of Man and UK based team to build upon these foundations and drive the business forward.’
Ian Jarrett said: ‘The past six years have been interesting and at times extremely challenging but I am more than satisfied that going forward our investment business here on the island will be in very capable hands and continue to thrive.’