WEALTH management firm Brewin Dolphin is closing its York office and expanding its team in Leeds.

The firm hopes that many of the eight staff working at the York site will transfer to a new, expanded base in Leeds at 10 Wellington Place, this autumn.

The merger of the two offices will result in a team of 45 managing £1.5bn of client assets.

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Stephen Ford, director of Brewin Dolphin and head of investment management, said: “While we recognise this is a sad day for York, we are continually reviewing how we conduct business to ensure our clients receive the best possible service.

“I am confident that all our clients will be very well served from our new enlarged Leeds office and that we will continue to grow our important and highly valued business in Yorkshire from our new state of the art building.

“I believe that all of our clients throughout the county and beyond will benefit from having one stonger Yorkshire office with considerably increased resources and we look forward to welcoming clients and colleagues from York.”

Last year, the company shut its branch in Stockton, with some staff transferred to its Newcastle base as part of a restructure plan.

In its latest interim results, Brewin’s profit before tax was up by 215 per cent on the year before, to £21.4m, while total income was up by 5.3 per cent to £146.3m. A 3.65p dividend was paid to shareholders.

The company manages funds worth £28.7bn, up by 2.1 per cent on 2013.