The long-established firm, which employs more than 40 people at offices in Newport and Abergavenny, believes there is scope to expand both its client base and area of operation, despite the current recession.

This new appointment represents the latest milestone in Peacheys' ambitious development plans, following the incorporation of the partnership last year and its investment in prestigious new headquarters on Newport's regenerated waterfront.

Mr Sulley, 38, is a high profile figure in the Gwent business community, having been head of marketing for publisher Newsquest for several years, covering nearly 40 newspapers, websites and magazines in Wales, Gloucester and the Midlands.

He began his career in sales with Thomson Business Publishing in London before returning to Wales to promote the landmark Ebbw Vale Garden Festival in 1992, and subsequently become a marketing manager with the former Gwent Training and Enterprise Council, where he spent three years.

In addition to his marketing roles he has also served as a non-executive director of Newport County Football Club and is the current chairman of the M4 Business Network.

Partner Paul Byett said: "This is a very strategic appointment for us. Steve has an excellent track record as a marketing specialist and we look forward to the major contribution we know he will make to the development of the company. Peacheys has a wealth of expertise, experience and innovative services so, despite the current recession, we see great opportunities, both to broaden our offering to current clients and take the business into a major new growth phase."

Peacheys, which was founded in 1929, is regarded as one of the leading Chartered Accountants in the Gwent area. Its partners have all joined the business from top international accountancy firms and its client base includes many of the best known businesses and individuals in the area.