Former Quilter chief executive (CEO) Paul Feeney has been appointed as group CEO at UK wealth manager Skerritts Group.
The appointment - effective 2 May - a will see founder Richard Skerritt move to a non-executive director (NED) position on the Brighton-headquartered firm's board.
Feeney spent ten years at the head of Quilter, during which time it moved from being a predominantly closed life book business to one of the UK's largest wealth managers. He has also held roles with Gartmore Investment Management and was a former CEO of Natwest Private Bank.
His appointment today (3 April) comes 12 months on from Sovereign Capital Partners' investment in Skerritts, which has seen it go on to complete nine acquisitions. It most recently bought Kent-based IFA Equinox Wealth in January and Horsham firm Mercier Allen & Associates last month.
Under Feeney, the wealth manager has confirmed it will further develop and accelerate its ‘buy and build' strategy.
"I am delighted to have the opportunity to work with Andrew again and also now Richard, two of the most successful entrepreneurs in the wealth management market," he stated. "Skerritts has all the right building blocks and, importantly, the right values to become one of the leading wealth management businesses in this country, and with the continued backing of Sovereign Capital, that's exactly what we are going to create."
Skerritts chair Andrew Fisher said the appointment of Feeney would help the wealth manager move to "the next stage in its development".
"Richard has build a great platform and now with Paul at the helm, we have the opportunity to create a leading business in the wealth management sector," he added.
Skerritt said: "The technology roadmap for the next 18 months is very exciting. Paul's significant sector experience will allow the group to reach its full potential and I look forward to supporting the business and Paul as a continuing board member and NED."
