Beaufort Investment has promoted Shane Balkham (pictured) to the post of chief investment officer (CIO), finally filling a role that has been vacant for two years.

In June 2017, then-CEO Stewart Murray left the company two months after being promoted from his role as co-CIO

When he was promoted, Murray also became the sole CIO, with former partner Stephen Watson becoming non-executive director.

The position remained unfilled until now.

Balkham, who was previously head of portfolio construction and research, created the discretionary fund manager's model portfolios in 2004. Called Equip, they help IFAs looking to outsource investment making choices.

Emma Clarke, who joined from Mazars in 2016 as senior investment analyst, also sealed a promotion to Balkham's old role as head of fund research.

The company has also recruited two new investment analysts. Paul Freedman joins from Charles Stanley and Cormac Nevin, from Red Deer.

Derrick Dunne (pictured above), chief executive of Beaufort Investment said: 'We are delighted that Shane and Emma have been promoted and taken on additional duties in running the funds under management, now some £1 billion invested on behalf of clients of financial advisers working both under the Beaufort Financial umbrella, as well external firms attracted by the firm’s process and performance.'

Freedman boasts 15 years' experience in investment management and previously worked for Barings and Citigroup. He has experience in operations, compliance and investments.

Nevin worked at Red Deer as an analyst for nearly two years. Previously, he worked for Secor Asset Management from July 2014 to November 2016.

Dunne said: 'We are very pleased that Paul and Cormac have joined us and, in addition to the six members of the investment strategy team, we have some 15 operations, compliance and marketing staff whose role is to ensure that the financial advisers who outsource to us receive the highest levels of service.'