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Nigel Stockton to head up IFA consolidator

Nigel Stockton to head up IFA consolidator

Bellpenny’s chief executive Kevin Ronaldson will step down in September, moving to become founder director, while Countrywide director Nigel Stockton takes over from him as chief executive.

The national wealth manager, owned by Oaktree Capital Management, confirmed the succession plans, which are still subject to regulatory approval.

Mr Ronaldson has led Bellpenny since launch in October 2012, overseeing its expansion to more than £3bn funds under management and 70 financial planners.

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His new role will see him working closely on strategic planning with the board and incoming chief executive, whilst also remaining a shareholder and investor.

He commented that the new role means he can enjoy the best of both worlds. “I’ll remain closely involved with the business while also having time for my other interests, which have rather taken a back seat over the past three years.”

Mr Stockton is currently financial services director at estate agency and property services group Countrywide.

His previous roles include Lloyds Banking Group sales director for mortgages and managing director of Birmingham Midshires.

Bellpenny chairman Grenville Turner said that their new man was a “tailor-made replacement”, while thanking Mr Ronaldson for all his efforts.

Mr Stockton commented that he was looking forward to applying his mortgage industry experience to the investment world, “where both the consumer need and commercial opportunity are, if anything, even greater”.

Meanwhile, Countrywide also announced a number of new appointments to its executive team, restructuring the four business units - retail, business to business, London and financial services - to be supported by a central team - finance, HR, transformation and marketing.

Samantha Tyrer will become managing director for retail, joining from Dixons Carphone, where she was responsible for 8,500 people across 1,100 branches.

Paul Creffield joins as managing director for B2B, while Graham Bell is managing director for London and Peter Curran will move at the start of September from Lloyds Banking Group to be the managing director for financial services.

Alison Platt, chief executive at Countrywide, commented: “With new arrivals comes a departure and with our full support and pleasure that he remains within the family, Nigel Stockton will join Bellpenny on 1 September.

“Nigel has been a director of Bellpenny since its inception and this role will see him continue to operate in the mortgage and insurance arena. Both Peter and Nigel have worked together for a number of years and their professional support for each other will ensure a smooth transition.”

peter.walker@ft.com