At a Maryland fund firm with 18 offices, more than 950 staff, and about $170 billion in AUM (as of December 31), the longtime chief will now share the reins with a fellow company veteran of nearly 22 years.

Today, Bob Flanagan, lead director of the board of Brown Advisory [profile], and Bob Hollond, director and chair of Brown's international advisory board, confirm that Logie Fitzwilliams and Mike Hankin will now serve as co-CEOs and co-presidents of the Baltimore-based asset manager, effective immediately. Hankin (age 67) had served as Brown's sole president and CEO since it became independent 30 years ago, while Fitzwilliams (44) most recently served from London as head of international business and global head of sales. The change takes effect today, and both Fitzwilliams and Hankin are partners at the firm and will serve on its board of directors.

Logie Fitzwilliams (left) and Michael David "Mike" Hankin Brown Advisory

"The exact division of responsibility is an internal matter and will develop over time as the needs of clients and the business evolves," a spokesperson for Brown tells MFWire via email. "Logie and Mike have worked together for 22 years and very closely for more than 15 years since Logie launched the international business. They have an extremely strong partnership with the ability to look at things differently given their different backgrounds."

The Brown team confirms that London-based Quintin Ings-Chambers, head of international private clients and charities, will succeed Fitzwilliams as head of the international business and will report to Fitzwilliams. Yet a spokesperson for Brown confirms that Fitzwilliams will retain the responsibility of global head of sales.

Despite the leadership update, Hankin reaffirms the ownership structure of the majority-employee-owned firm.

"Importantly, Logie and I share the existential commitment to Brown Advisory remaining a private and independent firm," Hankin states. "Our ownership structure — where every single colleague owns equity in the firm alongside an important set of outside shareholders who provide critical advice and support — will remain the same; it is the structural backbone to being the client-first firm we aspire to be over generations."

Hankin describes sharing the CEO duties with Fitzwilliams as "this natural next step in the leadership of the firm." Hankin lauds Fitzwilliams for having "the qualities that ... make him the ideal person to share responsibility for leadership of the entire firm."

"He understands that to be truly client first, we need to be obsessively focused on listening to our clients in the U.S. and around the world. He understands that to build successful teams, we need to also listen to our colleagues," Hankin states. "We need to make sure that our colleagues have the resources and training necessary to live up to our clients' expectations."

Fitzwilliams highlights his own long tenure at the firm, working with Hankin, while also emphasizing Brown's independence.

"From the outset we have had a shared focus on investing for, advising and serving our clients at the highest possible level, and a common commitment to the future of Brown Advisory as a private, independent, entrepreneurial and nimble business," Fitzwilliams states.

Flanagan reveals that Brown's board "considered many options and scenarios to ensure that Brown Advisory had the best leadership in place for the present and future."

"The process and thinking behind this decision was extensive, productive and always forward looking," Flanagan states. "Each of us believe that the firm, its clients and its colleagues will be best served with Mike and Logie acting as CEOs, together."

Hollond highlights "the incredible impact" Fitwilliams has had, "for Brown Advisory and its clients."

"I know the Directors all share my excitement in welcoming Logie to the Board, and to seeing Mike and Logie work together as a team," Hollond states.

Ings-Chambers joined Brown in 2012, and he took over as head of international private clients and charities in 2020. Earlier, he held leadership roles with SG Hambros, Baring Asset Management, and Rensburg Sheppards. He is an alumnus of BBP Law School and of Oxford University's Westminster College.

Fitzwilliams joined Brown in 2003 as an equity research analyst, and he rose to partner in 2008 when he became head of international business. He is an alumnus of the Johns Hopkins University.

Hankin served as COO of Brown Investment Advisory and Trust Company before Brown Advisory gained its independence in 1998. Earlier, he worked with the law firms Piper & Marbury and Venable Baetjer & Howard LLP. He is an alumnus of the University of Virginia's School of Law and of Emory University. 

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