The US firm, which provides services including investment management and private banking from 18 locations globally, has announced a partner promotion.

Brown Brothers Harriman & Co has appointed William Tyree as managing partner.

Tyree, who joined BBH 30 years ago and was named partner in 2001, has served as head of the firm's investor services business for the last eight years. He chairs the firm’s investor services oversight committee, and is a member of both the BBH executive and finance committees. 

He will take on the new role at the beginning of 2016, replacing current managing partner Douglas Donahue, who BBH said will soon reach the customary age at which its partners relinquish managerial responsibility (65). Donahue joined BBH back in 1976 and will remain one of the firm's general partners.

“BBH continues to prove we are a firm that adapts to change and thrives no matter the business climate and even through the most challenging of times. It’s what we've been doing for nearly 200 years. I'm honored to succeed Digger [Donahue] who has so capably led the firm these last eight years, and I'm likewise excited to guide BBH into the future,” said Tyree.

BBH has three business lines: investor services, investment management, and private banking. BBH Investor Services has $4.7 trillion in assets under custody and administration while BBH Investment Management and BBH Private Banking have $54 billion and $27 billion in assets under management respectively.