Advice Investments Wealth management

Quilter appoints Tim Breedon as non-executive director

14 May 2020

Quilter is pleased to announce that Tim Breedon has been appointed as an independent non-executive director, with effect from 1 June 2020.  

This follows the announcement on 11 March 2020 that Cathy Turner and Dr Suresh Kana will be stepping down from the Quilter plc Board at the conclusion of the Company’s 2020 Annual General Meeting which takes place today.

Tim is currently a non-executive director of Barclays plc and Barclays Bank plc, chairing the Board Risk Committee and is a member of the Board Audit Committee, Board Nomination Committee and Board Remuneration Committee.  He is also Chairman of Apax Global Alpha Limited and had previously served as executive chairman of the Northview Group. Before that, Tim had a distinguished career with Legal & General, where, among other roles, he was the group chief executive from 2006 until June 2012. Tim was a Member of the Takeover Panel from 2010 to 2012, a non-executive director of the Association of British Insurers, where he has served as chairman from 2010 to 2012 and a non-executive director on the Financial Reporting Council between 2004 and 2007.    

As a former CEO of a FTSE-100 company operating in the UK long-term savings market, Tim will provide challenge, advice and support to Quilter management on business performance and decision-making. Tim’s appointment will support the Quilter Board in overseeing the delivery of long term sustainable success for Quilter using his extensive financial services experience, deep understanding of risk management and UK and EU regulation, as well as an understanding of key investor issues.

Tim will join the Quilter Board Risk Committee, Board Remuneration Committee and Board Corporate Governance and Nominations Committee.

Glyn Jones, chairman of Quilter, comments:

I am delighted Tim has agreed to join the Quilter Board.  Tim brings a unique blend of experience and expertise as a former CEO in a highly successful FTSE 100 savings and pensions business, and as a very seasoned non-executive director in both a FTSE 100 company and private equity backed businesses. He brings a deep understanding of UK regulated financial services, corporate governance in UK public companies, and  effective board challenge and support in building out a sustainable long term business.”

Tim said, “I am pleased to be joining Quilter at an important point in its evolution and I look forward to working with the chairman and my fellow Board members in supporting the Quilter management team.”

Quilter further announces that following the decision by Cathy Turner to step down from the Quilter Board, Paul Matthews has been appointed a member of the Board Remuneration Committee and has further agreed to act as the designated non-executive director for engagement with the company’s workforce, in line with the provisions of the 2018 UK Corporate Governance Code, with immediate effect.

Paul said, “I am pleased to be able to build on the work initiated by Cathy Turner and take specific responsibility for engaging with Quilter’s employees. Taking proper account of their interests, alongside those of other stakeholders, is an important part of our board culture.”

For more information contact

Tim Skelton-Smith
023 8091 6998 
078 2414 5076

Notes to Editors:

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 £95.3 billion in customer investments (as at 31 March 2020).

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 Investment Platform 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.