Brewin Dolphin, a UK-based wealth management firm, has said that it will develop its Leeds office with the consolidation of its York branch, which is being closed.
Under the expansion plan, the firm intends to move many of the eight staff currently working out of its office in York to its new base in Leeds.
The merger will be headed by Michael Craven, head of Brewin Dolphin in Leeds.
The consolidation of the two offices will result in a team of 45 investment managers and financial planners as well as their support staff in Leeds managing £1.5 billion of client assets.
As part of the plan, the Brewin Dolphin office that is currently located at 34 Lisbon Street, Leeds will be moved to new premises at 10 Wellington Place, a five-storey office building constructed by MEPC.
Stephen Ford, director and head of investment management of Brewin Dolphin, said: "While we recognise this is a sad day for York, we are continually reviewing how we conduct business to ensure our clients receive the best possible service. I am confident that all our clients will be very well served from our new enlarged Leeds office and that we will continue to grow our important and highly valued business in Yorkshire from our new state of the art building."
Michael Craven, head of Brewin Dolphin Leeds said," I believe that all of our clients throughout the County and beyond, will benefit from having one stronger Yorkshire office with considerably increased resources and we look forward to welcoming clients and colleagues from York."