According to Brooks Macdonald, Davey will continue to work with the business as a consultant over the next one to two years in order to help ensure a structured handover.
The group added that the business interests that Davey is pursuing do not conflict with those of BMI.
Zaman is the former chief executive of DPZ Capital, which was acquired by BMI in April this year and one of the supporting roles Davey will continue to play is in the completion of the integration of DPZ into the BMI business.
Zaman said: “the integration of DPZ is progressing well and I look forward to continuing to grow scale in the international business going forward.”
At the time of the acquisition in April Brooks Macdonald chief executive, Chis Macdonald said: “This is a very exciting acquisition for the group in line with our strategy to expand our international division based in Jersey.
“As well as adding scale to our international business, DPZ bring a highly talented investment management team and additional skills to expand our offering.”
Zaman has more than 28 years in the financial industry including a stint as managing director of HSBC Investments and a role at Le Masurier James and Chinn, before founding DPZ in 2007.
Davey said: “I have greatly enjoyed heading up Brooks Macdonald’s offshore operations.”