Mr Higgins, who this year celebrated two decades of employment in the business, most recently held the role of head of finance at the firm. The internal promotion will see him take charge of day-to-day operations, finance and IT functions across the firms’ Edinburgh, Glasgow, Dundee, and Dunfermline locations.

Scott Whyte, managing director at Watermans, said: “Colin has played an integral role in shaping the history, growth and future development of Watermans.

“People talk about long service, but for me what you do in the time you are at a business is more important than simply how long you have been there. Fortunately for me, and for Watermans, Colin has delivered year on year for the business and is very much at the beating heart of all that we do.

“Colin’s appointment as our first chief operating officer recognises both the contribution he has made here and the role he will play in shaping our future as a key member of our senior management team. I am looking forward to working with him as we turn those plans into reality.”

Mr Higgins said: “Being appointed Watermans first chief operating officer is something I’m incredibly proud of.

“Twenty years has gone by very quickly, which probably says everything about how much I’ve enjoyed being part of Watermans. When I think about my time here, it’s the people that stand out more than anything else. We’ve always been a business that invests in people, and I’ve seen colleagues join us, develop their careers and go on to achieve great things, both within the firm and beyond. Seeing people fulfil their potential has been one of the most rewarding parts of my career.”