Brooks Macdonald chair Alan Carruthers has resigned from the position after suffering continued health issues during the past year.

He has resigned with immediate effect, a statement today (7 February) from the wealth manager said, adding the exit would allow him to focus on his recuperation.

It added senior independent director Richard Price would assume the role of acting chair.

Price said: "We are all deeply sorry that Alan is leaving Brooks Macdonald in these circumstances and we wish him a full and speedy recovery.

"Under Alan's chairmanship the group has built real momentum towards our ambitious growth plans and I am confident those plans will continue to be executed successfully by Andrew Shepherd and his management team."