PensionsNov 13 2015

Scottish Sipp hires industry veteran for UK expansion

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Scottish Sipp hires industry veteran for UK expansion

Self-invested pension provider @sipp Limited has appointed Eddie McGuire as managing director and tasked him with leading the charge into the English market.

He joined six weeks ago, moving across from five years as client services director AJ Bell, having previously been financial institutions director at Jardine Lloyd Thompson and the originator of Xafinity’s - previously Hazell Carr - Sipp business.

Speaking to FTAdviser, Mr McGuire said that the firm has become well established amongst IFAs north of the border, building an asset book in excess of £500m in Sipps and Ssas’ and growing to just under 40 staff since 2001.

“We’re now looking to expand south and I think there are still deals out there to be done, especially in the run up to the capital adequacy requirements next year.

“Firms are more likely to sell up, rather than putting the money in before the new rules come in, so i think there will be quite a few moves made in the market over the next few months.”

Commenting on the appointment, chairman Colin Barral said that having a leading industry figure in the business confirms intentions to become a leading, service-led Sipp provider.

“We see a number of opportunities to expand the business through extending our IFA network and by selective acquisitions and bulk TPA deals.”