All seven executive directors of wealth management firm Brooks Macdonald have taken advantage of the share price more than doubling over the past year to reduce their shareholdings.

They all sold shares at 895.5p each and raised £2.21m in total. The shares are 133% higher than one year ago.

Investment director Richard Spencer sold 70,000 shares and raised £627,000. This takes his stake in Brooks to 8.41%.

Chief executive Chris Macdonald and executive director Jonathan Gumpel each raised £448,000 by selling 50,000 shares. Macdonald was the largest shareholder but his 9.07% stake is just below Liontrust's 9.55% stake. Gumpel owns 7.04%.

Finance director Simon Jackson raised £377,000 from his share sale and Nicholas Lawes raised £188,000. Nicholas Holmes generated £72,000 and Andrew Shepherd £45,000.

Earlier this week, Brooks Macdonald lifted interim profits by four-fifths helped by a 50% increase in assets under management. Revenue in the half year to June rose 61% to £35.1m, profits rose 78% to £5.7m and managed funds jumped 57% to £2.2bn.

Since June, Brooks Macdonald has bought fellow AIM-quoted fund manager Braemar for £4m in cash.


Top Director Buys

Medgenics (MEDG)
Director name: Mr Joel E Kanter
Amount purchased: 3,059,192 @ 4.53p
Value: £138,581

Ithaca Energy Inc. (IAE)
Director name: Mr Jack C. Lee
Amount purchased: 85,000 @ 109.42p
Value: £93,007

Public Service Properties Investments (PSPI)
Director name: Mr Richard Hugh Barnes
Amount purchased: 50,000 @ 77.75p
Value: £38,875

Lombard Risk Management (LRM)
Director name: Mr Philip Crawford
Amount purchased: 590,000 @ 4.25p
Value: £25,075

Ithaca Energy Inc. (IAE)
Director name: Mr Ron Brenneman
Amount purchased: 10,000 @ 112.85p
Value: £11,285

Prudential (PRU)
Director name: Mr Michael McLintock
Amount purchased: 3,133 @ 569.30p
Value: £17,836

Ithaca Energy Inc. (IAE)
Director name: Mr Ron Brenneman
Amount purchased: 10,000 @ 106.35p
Value: £10,635

Ithaca Energy Inc. (IAE)
Director name: Mr Ron Brenneman
Amount purchased: 9,000 @ 114.14p
Value: £10,273

Penna Consulting (PNA)
Director name: Mr Richard Stillwell
Amount purchased: 12,500 @ 112.00p
Value: £14,000


Top Director Sells

Brooks Macdonald (BRK)
Director name: Mr Richard Spencer
Amount sold: 70,000 @ 895.50p
Value: £626,850

Brooks Macdonald (BRK)
Director name: Mr Chris A MacDonald
Amount sold: 50,000 @ 895.50p
Value: £447,750

Brooks Macdonald (BRK)
Director name: Mr Jonathan Gumpel
Amount sold: 50,000 @ 895.50p
Value: £447,750

Brooks Macdonald (BRK)
Director name: Mr Simon Jackson
Amount sold: 42,100 @ 895.50p
Value: £377,006

Brooks Macdonald (BRK)
Director name: Mr Nicholas Hugh Lawes
Amount sold: 21,000 @ 895.50p
Value: £188,055

Brooks Macdonald (BRK)
Director name: Mr Nicholas Holmes
Amount sold: 8,071 @ 895.50p
Value: £72,276

Brooks Macdonald (BRK)
Director name: Mr Andrew William Shepherd
Amount sold: 5,000 @ 895.50p
Value: £44,775

Related share prices
Prudential (PRU) share price
Penna Consulting (PNA) share price
Lombard Risk Management (LRM) share price
Brooks Macdonald Group (BRK) share price
Ithaca Energy Inc. (DI) (IAE) share price
Public Service Properties Investments Ltd (DI) (PSPI) share price
Medgenics Inc. (Reg S) (MEDG) share price