THE family investment office of Sir Brian Souter has reshuffled its senior leadership team.

Andy Macfie has stepped down as managing director after 14 years to become chairman.

Long-serving executives John Berthinussen and Calum Cusiter have been appointed co-managing directors.

Sir Brian said: “When Andy and I launched Souter Investments in 2006 our vision was to create a professional but entrepreneurial family investment office, building a diversified investment portfolio that would generate healthy returns over the long-term, be resilient to economic downturns and fund charitable donations. Andy has been critical to us achieving these objectives.”

Mr Macfie said: "Calum and John have worked for me at Souter Investments for the last 12 years and thoroughly deserve their promotion.

"We have together generated excellent returns and have a strong portfolio of investments which has been resilient to the effects of Covid-19. After 35 years investing in private equity, I am delighted to be handing over the reins to Calum and John and to look forward to continuing my involvement with Souter Investments as chairman.”