Board changes and trading update

21 March 2013

Brewin Dolphin Holdings PLC

("Brewin Dolphin"/ the "Company")

Board changes and trading update

Brewin Dolphin Holdings PLC announces a number of important changes to its Board including the appointment of a Non-Executive Chairman and Chief Executive Officer. These changes will support the continued development of the business as it builds on its strong position as one of the UK's largest independently-owned investment managers.

Key points

§ Simon Miller has been appointed Non-Executive Chairman. He joined the Board in October 2005 and has been Deputy Chairman since February 2012.

§ Jamie Matheson, Executive Chairman, has stepped down from the Board after eight years in the role and forty years in the City.

§ David Nicol has been appointed Chief Executive Officer; he joined the Board as a non-executive director in March 2012.

§ Stephen Ford has been appointed an Executive Director, responsible for Investment Management, and will report to the Chief Executive, David Nicol.

§ Current trading and outlook remains in line with our IMS announcement released on 31 January 2013.

David Nicol, the newly appointed Chief Executive Officer of Brewin Dolphin Holdings PLC is a Chartered Accountant and joined the Board as a non-executive director in March 2012. David worked for Morgan Stanley in both Operations and Finance roles. He was appointed a director of Morgan Stanley International PLC in 2004 and served on the Board until 2010. After a careful internal and external search, the Board believes that David's significant experience of a large financial services business will enhance Brewin Dolphin's ability to deliver on the next phase of its strategic objectives.

With the implementation of the objectives established by the 2011 strategic review now well advanced, Jamie Matheson, Executive Chairman, has stepped down from the Board after eight years in the role. He will be working with David Nicol and the management team to ensure a smooth transition to the new leadership, while also being able to devote more time to his other business and charitable interests. Under his Chairmanship, the Company has enjoyed a period of consistent growth and has become one of the largest private client wealth managers in the UK.

As a result of these changes, Henry Algeo, Ben Speke and Sarah Soar have kindly stepped down from the Board.

Simon Miller, Chairman said:

"On behalf of all our employees and shareholders I want to thank Jamie for his dedication to Brewin Dolphin over the years. His contribution has been immense and his strong leadership has built Brewin Dolphin into one of the UK's leading private client wealth managers, based on a total focus on client service which is core to how we will continue to develop the business. Since Jamie's appointment as Executive Chairman Brewin Dolphin shares have outperformed the FTSE All Share index and delivered a total return of 170%1 - he will be sorely missed.

As Chief Executive David will bring to the business exceptional qualities and his experience of our industry that he has gained over many years. We welcome him wholeheartedly to this new role.

Henry, Ben and Sarah have dedicated themselves to building Brewin Dolphin into the Company it is today and I would like to thank them for their very significant contribution over the years for which the Board is grateful.

Stephen Ford brings to the Board his valuable experience and detailed knowledge of our investment management business, where for some years he has jointly led the London office.

Current trading and outlook remains in line with our IMS announcement released on 31 January 2013. Our interim results for the six months to 31 March 2013 are due to be released on 29 May 2013. "

Jamie Matheson said:

"Having led Brewin Dolphin through a significant period of growth and steered the business through the changes brought about by the Retail Distribution Review, I believe it is time to hand over the reins. I am proud of what we have achieved and believe that the Company is well structured to build on its enviable position. I have enjoyed my many years at Brewin Dolphin and while the decision to step down is never easy, the time is right for me and the business. I am confident that I leave Brewin Dolphin on a sure footing and with bright prospects."

 David Nicol, Chief Executive, said:

"Our success under Jamie's leadership has been built on meeting the individual needs of our diverse range of clients with high quality investment advice. As we continue with the implementation of our strategic review, our unstinting focus on the highest levels of customer service will continue to be the hallmark of all we do."

Further background and other changes

Simon Miller has been appointed Non-Executive Chairman. He joined the Board in October 2005 and has been Deputy Chairman since February 2012.

Stephen Ford has been appointed an Executive Director, responsible for Investment Management, and will report to the Chief Executive, David Nicol. Stephen joined the Company in 2000 as an Investment Manager. He has since held a number of senior management roles, most recently serving on the board of the principal operating company of the business and jointly led the London office. There are no other details that are required to be disclosed in respect of Stephen Ford's appointment under Rule 9.6.13 of the Listing Rules of the UK Listing Authority.

As a result of these changes, Henry Algeo, Ben Speke and Sarah Soar have kindly stepped down from the Board. Henry, Ben and Sarah have dedicated themselves to building Brewin Dolphin into the Company it is today and they have each agreed to remain available to facilitate a smooth transition. The Board is very grateful for the significant contribution they have made.

Barry Howard has stepped down from the Board and continues to lead the Regulatory and Risk functions, reporting to the Chief Executive, David Nicol.

The roles of Andrew Westenberger (Finance Director) and Michael Williams (Executive Director) remain unchanged. David Nicol has stepped down as Chairman of the Audit Committee and a search for an additional independent non-executive director with requisite financial experience has been initiated. Jock Worsley will chair the Audit Committee in the interim and will assume the role of Senior Independent Director. Subsequent to the appointment of an additional independent non-executive director, half the Brewin Dolphin Board, excluding the Chairman, will comprise independent non-executive directors and will therefore become fully compliant with provision B.1.2. of the UK Corporate Governance Code.

All Board changes detailed above take place with immediate effect.

Contacts:

1Source: Bloomberg

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