Changes to the Executive Committee
Quilter plc (‘Quilter’), one of the UK’s leading wealth management organisations, announces the following changes to its Executive Committee in order to ensure that it is well prepared for the next phase of its corporate journey, following its listing on the London and Johannesburg Stock Exchanges on 25th June 2018. All new Executive Committee members will report to Paul Feeney, CEO of Quilter.
- After 15 years of leading Quilter Cheviot to the successful business it is today, Martin Baines has decided to step down as the CEO of Quilter Cheviot. He will stay on throughout 2019 as a Senior Adviser to the Quilter Cheviot Board. Accordingly, Martin will relinquish his roles on the Quilter Cheviot and Quilter plc Executive Committees and from the day-to-day running of Quilter Cheviot. Martin’s role will encompass senior client and business development activities, reporting jointly to Paul Feeney and Ian Buckley, the newly appointed Independent Non-Executive Director and Chairman of the Quilter Cheviot Limited Board. Ian recently joined Quilter Cheviot from Rathbone Brothers PLC alongside Philip Tew as an Independent Non-Executive Director, who joined the business from PricewaterhouseCoopers.
- Andy McGlone, currently Managing Director of Quilter Cheviot, will succeed Martin as CEO of Quilter Cheviot (subject to regulatory approval) and will join the Quilter plc Executive Committee. Andy has worked through his entire career at Quilter Cheviot, having joined in 1994 and most recently led the front office functions based in London. Andy will be responsible for leading Quilter Cheviot through the next phase of its journey.
- Having played a key role in the creation of Quilter, Steve Braudo, the organisation’s current Chief Operating Officer (‘COO’), believes that this is the right time for a specialist COO to take on a reshaped COO role. Steve will therefore leave the organisation on 5th October to pursue other opportunities.
- Karin Cook will join the organisation as COO on 2nd January 2019 (subject to regulatory approval). Karin brings a wealth of experience of leading major transformations of operations and IT functions, and also of leading complex business unit and group-wide processes in large, publicly listed, financial services organisations. Karin spent five years at Lloyds Banking Group, where she undertook roles that included Chief Operating Officer of Commercial Banking and, more recently, Group Director of Operations, on the Group Executive Committee, reporting to the Group Chief Executive. In addition, Karin spent nine years at HSBC where she was Chief Operating Officer of Global Private Banking from 2010 to 2013.
- Peter Kenny becomes CEO of Old Mutual International and a member of the Executive Committee. Peter will continue to drive the positive momentum that has been achieved regarding the transformation of the international business which he started when he joined the business in August 2016.
In order to ensure greater visibility and engagement for Quilter’s external proposition, brand build and customer agenda, two new Executive Committee roles have been created:
- Michelle Andrews joins the Executive Committee as Chief Marketing Officer. Michelle joined the organisation in 1997 and is a UK & International marketing expert, with a successful track record in leading major change in brand and proposition. She has extensive commercial experience, having held numerous senior marketing and commercial roles during her career and has built significant strategic expertise in marketing as well as in customer proposition development.
- Jane Goodland has been promoted to the role of Corporate Affairs Director and a member of the Executive Committee. Jane will be responsible for overseeing external communications and PR, stakeholder engagement, government relations, public policy, industry lobbying and Quilter plc’s Responsible Business agenda.
Paul Feeney comments:
“I am delighted that Andy, Karin, Peter, Michelle and Jane are joining my Executive team as all bring valuable experience and skills. Karin brings a huge amount of experience from working as COO in two publicly listed, financial services organisations; Peter has already made good progress in transforming our international business; Andy has an exceptional understanding of Quilter Cheviot and the wealth management industry; Michelle is a very experienced marketing professional who has demonstrated her capabilities throughout the 21 years she has worked here, particularly with regard to our rebranding to Quilter and Jane has made a huge impact in developing our Responsible Business strategy and external stakeholder engagement campaigns over the last three years. I believe that we are very well placed to drive forward the next phase of our corporate journey.
“I am delighted that I will continue to work with Martin in his new role and also welcome Ian and Philip to our organisation. On behalf of everyone at Quilter, I would like to thank Steve Braudo for his valuable contribution. Over the last two years, Steve has supported our managed separation from Old Mutual plc, our listing on the London and Johannesburg Stock Exchanges and has established robust governance and IT standards within Quilter. We wish him well for the future.”
Vee Montebello, Quilter plc
T: 020 7 778 9550
M: 07872 665149
Notes to Editors:
Quilter plc Executive Committee:
Michelle Andrews – Chief Marketing Officer
Michelle Andrews joined the business in 1997 and is a UK & International marketing expert, with a successful track record in leading major change in brand and proposition. She has extensive commercial experience, having held numerous senior marketing and commercial roles during her career, and has built significant strategic expertise in marketing as well as in customer proposition development.
Michelle is a Fellow of the Chartered Institute of Marketing.
Martin Baines – Senior Adviser, Quilter Cheviot
Martin Baines served as Chief Executive Officer of Quilter Cheviot from 2003 to August 2015, and from May 2017 until present. He became a Director of Quilter & Co in 1998 and joined the management group in 1999. Martin has previously served as Head of Onshore Branches, with specific responsibility to build the UK branch network. Following the purchase of Quilter & Co by Morgan Stanley in 2001, he was appointed as a Managing Director of Morgan Stanley in 2002 and Chief Executive Officer of Quilter & Co in 2003. In 2011 and 2012, he led the Bridgepoint backed buyout of Quilter & Co from Morgan Stanley. The Quilter & Co business then merged with Cheviot, a leading London based investment management company. Post integration of the two companies, Martin led the subsequent deal process which resulted in Quilter Cheviot becoming part of the Group.
Martin trained with KPMG before beginning a career in stockbroking and investment management. He is a fellow of the Chartered Institute for Securities & Investment.
Karin Cook – Chief Operating Officer
Having worked in operations related roles for 28 years, Karin brings a wealth of experience of leading major transformations of operations and IT functions, and also of leading complex business unit and group-wide processes in large, publicly listed, financial services organisations. Prior to joining Quilter, Karin spent five years at Lloyds Banking Group, where she undertook roles that included Chief Operating Officer of Commercial Banking and, more recently, Group Director of Operations, reporting to the Group Chief Executive. In addition, Karin spent nine years at HSBC where she was Chief Operating Officer of Global Private Banking from 2010 to 2013.
Jane Goodland – Corporate Affairs Director
Jane Goodland has over 20 years’ experience in the investment management industry. She gained extensive experience in sustainable and responsible investment management from roles at Janus Henderson and HSBC Global Asset Management. In addition, whilst an investment consultant with Willis Towers Watson, Jane set up and ran a new consulting business line focused on sustainable investment for institutional investors. Jane joined Quilter plc (formerly Old Mutual Wealth) in August 2015 and is currently a Non-Executive Director of The Tax Incentivised Savings Association (TISA) and Chair of one of Old Mutual Wealth Pension Schemes. She is a Trustee of the Quilter Foundation and set up and co-chairs a collaborative industry initiative, KickStart Money, which delivers financial education in primary schools and lobbies for financial education to be recognised by the Government as a vital life skill. Jane is also a member of the Steering Committee for the Diversity Project – a widely supported industry initiative aimed at driving a more inclusive culture in the investment profession.
Peter Kenny – CEO, Old Mutual International
Peter Kenny joined Old Mutual International in August 2016 as Managing Director of Old Mutual International. Peter has over 30 years’ experience in financial services, spanning both the life insurance and hedge fund sectors, having previously held the roles of chief operating officer, fund director and managing director of fund management and distribution companies. Prior to that, Peter worked for Zurich International Life where he held various positions, including that of strategic alliances and client services director with direct responsibility for 300+ staff across global locations. More recently, Peter was a Board Member of the Financial Services Authority on the Isle of Man and is currently the Deputy Chair of the Manx Insurance Association. Originally from Dublin, Peter has lived and worked in/from the Isle of Man for 30 years with spells in both the UK and Asia.
Andy McGlone – CEO, Quilter Cheviot (subject to regulatory approval)
Andy joined what was then Quilter Goodison in February 1994 as a Trainee Investment Manager and, over the next 20 years, worked his way up through the private client department before becoming joint head of the newly merged Quilter and Cheviot London front offices in late 2013. Around eighteen months later, he took on sole responsibility for the London based private client teams, and subsequently management oversight of the MPS and Dealing teams, the Chief Investment Officer and the Chief Investment Strategist. He has been on QC’s Executive Committee since 2013 and Chairs the Conduct Risk and Client Outcomes Committee.
Notes to Editors:
About 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 £110.4 billion in customer investments (as at 31 December 2019).
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: Advice and Wealth Management and Wealth Platforms.
Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.
Wealth Platforms includes Old Mutual Wealth UK platform and Quilter International, including AAM Advisory in Singapore.
The Old Mutual Wealth Heritage life assurance business was acquired by ReAssure Group Plc on 2 January 2020.
Since its IPO in June 2018, Quilter plc’s businesses have progressively rebranded to Quilter, as follows:
- Quilter Financial Planning (previously Intrinsic)
- Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
- Quilter Financial Advisers (previously Charles Derby Group)
- Quilter Financial Adviser School
- Quilter Cheviot
- Quilter Investors
- Old Mutual Wealth (becoming Quilter Wealth Solutions in 2020)
- Quilter International (previously Old Mutual International)
This press release is for journalists only and should not be relied upon by financial advisers or customers.
Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.
This communication is issued by Quilter plc. Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270. Registered in England.
This announcement may contain certain forward-looking statements with respect to certain Quilter plc’s plans and its current goals and expectations relating to its future financial condition, performance and results.
By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond Quilter plc’s control including amongst other things, international and global economic and business conditions, market related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory authorities, the impact of competition, inflation, deflation, the timing and impact of other uncertainties of future acquisitions or combinations within relevant industries, as well as the impact of tax and other legislation and other regulations in the jurisdictions in which Quilter plc and its affiliates operate. As a result, Quilter plc’s actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in Quilter plc’s forward looking statements.
Quilter plc undertakes no obligation to update the forward-looking statements contained in this announcement or any other forward-looking statements it may make.
Nothing in this announcement should be construed as a profit forecast.