Collins Stewart chairman Terry Smith to step down One of the City of London’s best-known figures, Mr Smith yesterday said he would hand the position over to Tim Ingram, the former chief executive of Caledonia Investments, who joined the company’s board in January. Mr Smith will remain as a deputy chairman to “support the transition”. Mr Ingram takes on the role at a time when Collins Stewart is looking to make an increasing proportion of its revenues from its growing wealth management businesses.   Related Articles Collins Stewart hunts Smith successor Terry Smith Collins Stewart abandons expansion plan Financial crisis: Strong medicine needed to cure ills of cheap money John Terry: I am staying at Chelsea Announcing its full-year results yesterday, which showed Collins Stewart had returned to profit after making a loss in 2008, the company said it would be looking to make more “bolt-on” acquisitions for its wealth management arm, which was responsible for nearly half of the company’s profits last year.[Read more...]