TIDMQLT
RNS Number : 9505F
Quilter PLC
01 November 2018
1 November 2018
Quilter plc
Quilter plc announces Chief Financial Officer transition to take
place in March 2019
Quilter plc ('Quilter') announces that Mark Satchel, currently
Quilter's Corporate Finance Director, is appointed Chief Financial
Officer with effect from 13 March 2019, subject to regulatory
approval. Tim Tookey, currently Chief Financial Officer will be
stepping down from the Board on 13 March 2019.
Having made a significant contribution to the creation of
Quilter plc as a standalone company and its subsequent listing in
June 2018, Tim Tookey approached the Board to discuss his wish to
return to a non-executive career, in order to enable a better
work-life balance. Tim and the Board have agreed that Tim will
leave the business at the end of April 2019, having fully
transitioned the role to his successor; he will step down from the
Board on 13 March 2019.
The Board is pleased to appoint Mark Satchel, currently
Corporate Finance Director, to the role of Chief Financial Officer,
effective on 13 March 2019, at which point he will join the Board,
subject to regulatory approval. Mark has a long history at Quilter
having been a pivotal member of the Old Mutual Wealth Executive
Committee for many years. Mark has also worked closely with Tim
over the last two years on the preparation for the listing and
driving the optimisation initiatives which remain on track for a
March shareholder update.
Glyn Jones, Chairman of Quilter plc said: "I would like to thank
Tim for his very significant contribution to the creation of
Quilter. We are sorry to see him go but he leaves with our best
wishes for the future and his return to a plural career. The Board
is delighted to appoint Mark Satchel to succeed Tim. Mark is very
well known to the Board and highly regarded. He has worked closely
in partnership with Tim so we are confident of a smooth transition
and continuity on key initiatives."
Paul Feeney, Chief Executive said: "Tim has made a great impact
during his time with Quilter and played an instrumental role in
preparing and delivering our listing. Whilst I am sorry that we
will be losing Tim, I am delighted that we have such an able
successor in Mark. I have worked alongside him for many years and I
am confident that he will be a very effective and talented
CFO."
Tim Tookey, Chief Financial Officer said: "Quilter is a great
business, built on strong foundations and with excellent prospects;
I will remain a strong supporter and shareholder in the business. I
am delighted to be able to hand over to Mark, with whom I have
built an excellent working relationship and who has all the skills
and experience to undertake the role going forward."
There are no other details that are required to be disclosed in
respect of these directorate changes under Paragraphs 9.6.11 and
9.6.13 of the Listing Rules of the UK Listing Authority, save as
disclosed in this announcement.
-ends-
Enquiries:
Investor Relations
John-Paul Crutchley +44 20 7002 7016
Media:
Jane Goodland +44 7790 012066
Camarco
Geoffrey Pelham-Lane +44 20 3757 4985
Aprio (South Africa)
Julian Gwillim +27 11 880 0037
Notes to Editors:
Biography: Mark Satchel - Chief Financial Officer (designate)
Mark joined Old Mutual in the UK in January 2000 and has held
numerous leadership positions within the Finance function at both
Old Mutual plc and the operating business units. He was appointed
as Chief Financial Officer to Skandia, which became Old Mutual
Wealth, and served on its board from 2010 until April 2018. Mark
was responsible for the disposal of nine businesses in Continental
Europe and played a lead role in the acquisition of Intrinsic and
Quilter Cheviot. He was instrumental in implementing Old Mutual
Wealth's successful business model and helped scope the footprint
of the business in preparation for an independent listing. More
specifically, Mark led the sale of the Single Strategy business
(Old Mutual Global Investors), the debt raising for Quilter plc and
the managed separation of Quilter from Old Mutual plc.
Earlier in his career, Mark was CFO for Skandia's Europe &
Latin America Division and also spent a year in Sweden integrating
Skandia into Old Mutual. He qualified as a Chartered Accountant in
South Africa, and worked for KPMG in both South Africa and Canada
prior to moving to the UK.
Quilter plc:
Quilter plc is a leading wealth management business in the UK
and internationally, helping to create prosperity for the
generations of today and tomorrow.
Quilter plc oversees GBP118.1billion in customer investments (as
at 30 September 2018).
It has an adviser and customer offering spanning: financial
advice; investment platforms; multi-asset investment solutions and
discretionary fund management.
The business is comprised of two segments: Wealth Platforms and
Advice and Wealth Management.
Wealth Platforms includes the Old Mutual Wealth UK Platform; Old
Mutual International, including AAM Advisory in Singapore; and the
Old Mutual Wealth Heritage life assurance business. Advice and
Wealth Management encompasses the financial planning network,
Intrinsic; Quilter Private Client Advisers; discretionary fund
management business, Quilter Cheviot; and Quilter Investors, the
Multi-asset investment solutions business.
The Quilter plc businesses are being re-branded to Quilter over
a period of approximately two years:
-- The Multi-asset business is now Quilter Investors
-- Intrinsic to Quilter Financial Planning
-- The private client advisers business is now Quilter Private
Client Advisers
-- The UK Platform to Quilter Wealth Solutions
-- The International business to Quilter International
-- The Heritage life assurance business to Quilter Life
Assurance
-- Quilter Cheviot will retain its name.
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END
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