Mr Gibson said: “It is a great privilege to be appointed chairman of BTO. I would like to thank Alan for his years of dedicated service and his huge contribution to the firm.

“BTO has a highly talented team and a genuine independent character which makes it such an attractive and distinctive firm, with huge potential. I look forward to working with the team as a whole in my new role and taking the firm forward into a new phase in its development.

“I am also delighted to welcome David Walker in his new post as chief operating officer. David is an excellent addition to the team and his wealth of experience will help us to continue to grow and enhance our offering to clients. It is testament to the strength of the firm that we are able to attract someone of David’s calibre.”

David Walker, a qualified chartered accountant with 20 years’ business experience, joined the firm from Ecolab Limited, a global Fortune 500 business, where he was Northern Europe finance director.

Commenting on his role as COO, he said: “I am delighted to be part of BTO – a team renowned for providing outstanding client service across a diverse and impressive range of specialisms.

“This is a fantastic opportunity for me to share my skills and experience with my BTO colleagues and I look forward to being a positive asset to the firm and to our clients.”