The chief executive of Wood Mackenzie has confirmed that the fast-expanding energy to metals consultancy will remain headquartered in Edinburgh as it continues to pursue an expansion plan that will see the firm doing an increasing share of its business outside the UK.

The chief executive of Wood Mackenzie has confirmed that the fast-expanding energy to metals consultancy will remain headquartered in Edinburgh as it continues to pursue an expansion plan that will see the firm doing an increasing share of its business outside the UK.

In an important endorsement for the capital, Stephen Halliday said the city continued to provide a good base from which to run the firm.

Formerly owned by NatWest and Deutsche Bank, the 164-year-old WoodMac gained independence through a £26m management buyout in 2001, since when it has developed a leading position in the market to help firms understand the implications of changes in global energy markets and related areas.

"This is a company that's performing well with a very strong brand. There is no need to relocate. We will continue to be based in Scotland," Halliday told The Herald.

Speaking weeks after Wood Mac underlined its growth ambitions by buying the Surrey-based Brook Hunt mining and metals research operation for around £50m, Halliday laughed off suggestions that the firm's expansion meant it had outgrown Scotland. The company has opened a series of new bases overseas in recent years, giving it a 19-strong network of offices stretching from Scotland to Australia.

Halliday noted WoodMac had benefited from very high retention rates for staff in Edinburgh, where it employs 280 staff out of a global workforce of 580.

Halliday said the location of the head office was not an issue to Candover, the London-based venture capitalist which has had a majority stake in WoodMac since October. In 2005 Candover acquired a 43% stake in WoodMac in a deal that valued the firm at £150m.

Halliday's comments will be welcomed by city leaders in Edinburgh, where the number of high-value specialist roles offered by WoodMac makes the firm a very significant employer.

Architect RMJM, which has expanded into markets such as Asia and Russia, has provided further proof that fast-growing firms with international ambitions can operate effectively out of the city.

Halliday said WoodMac would continue to expand organically and through acquisition. The firm will open a new office in Brazil this year.