Three members of eValue’s senior management team have resigned from the firm, FTAdviser can reveal.
Managing director Samantha Seaton, chief technology officer Richard Barker and actuarial director Mark Grimes have all resigned from their posts this week, although the latter is due to leave the firm next month, according to a source close to the situation.
All three have been with the firm since before it split from its consultancy parent company Towers Watson at the start of this decade.
eValue was set up by founder and strategy director Bruce Moss in the early 1990s as part of consulting firm Towers Perrin - which became Towers Watson - in order to help convert companies’ defined benefit pension schemes into defined contribution.
Mr Moss pointed out it has been another “exceptional year” at eValue, with revenue growth of 30 per cent and a combination of regulatory and demographic change that creates a highly positive outlook into the future.
“As a result of this success, eValue made the decision to replace me as interim CEO, a position I have held since March 2014. In November 2015, Mark Cappell was appointed as chief executive, bringing exceptional corporate and technology experience,” he stated.
“At the same time, sales and marketing director Sam Seaton took the decision to move onto new challenges away from eValue. We can also confirm that Richard Barker has left the business.”
As for Mr Grimes, the firm said it would not comment on speculation.
Ms Seaton’s LinkedIn page states Mr Moss proved the business case for eValue in 1999, after which she “begged and borrowed the core resource needed to get eValue off the ground in Towers Perrin”.
By 2002 “we had the beginnings of a great team of people, most of whom are still with eValue today”.
In December 2010, Financial Express purchased the firm and focused on creating a fund research and modelling proposition for providers and advisers.
Towers Watson continued to market eValue to its pension fund clients, as well as providing Financial Express with stochastic and asset modelling expertise.
peter.walker@ft.com
