Mr Davies has been with the firm since 1998 and is being moved up from head of their strategic wealth management division. His experience includes co-managing BDO Stoy Hayward’s fund of hedge funds, Fitzwilliam Balanced Growth.

"Simon's experience of managing complex client relationships and delivering client-focused advice through all market conditions makes him an exceptional head for our private client business," said Richard Spilg, chief executive of BDO Stoy Hayward Investment Management.

The UK private wealth management business was launched by BDO Stoy Hayward in February. The unit provides independent advice to individuals with more than $3 million of investable capital.

BDO Stoy Hayward Investment Management is the wealth management arm of UK accountancy firm BDO Stoy Hayward and has over 200 employees based in offices across the UK. Internationally, the BDO Stoy Hayward accountancy network has more than 600 offices in 100 countries.