Scottish firm Ledingham Chalmers has hired a financial adviser from rival firm Burnett & Reid to set up a new company, Ledingham Chalmers Financial Services.
Colin Morgan, who was previously a financial adviser at Scottish firm Burnett & Reid, will become the managing director of the new company. Morgan was recruited in preparation for the new regulatory regime that was introduced by the Financial Services and Markets Act 2000. Ledinghams senior partner David Laing said: "The new financial services company has been set up primarily to serve the needs of the firm's private clients." Morgan is bringing a significant client following with him, made up of private individuals, trusts and corporates.