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Brown Shipley anticipates that the new Birmingham office will have £150m funds under management within its first year.

It will provide high net worth clients with discretionally managed investment portfolios, fund management, pension, estate planning and banking services.

The new Birmingham office is expected to be operational within the next three months

The Birmingham team, which come from Deutsche Tilney, will take up their new posts as soon as their notice periods have expired. The team will be led by David Craig, who has been appointed as private client director.

Craig will report to John Williams, Brown Shipley’s private client divisional director.

Williams said: "We have a clear growth strategy going forward including investing in new client offices where appropriate.

"Birmingham will become an important key location for us and with the new team providing an experienced foundation, we can really develop our presence in the Midlands."

Brown Shipley has £2.5bn funds under management and offices in London, Manchester and Leeds.