A shake-up is underway at the top of Old Mutual Wealth, with chief operating officer Jeremy Charles retiring, while customer director Carlton Hood prepares to make an internal move.
A statement from the group explained that when joining in 2012, Mr Charles was clear that his intention was to retire in 2016.
He will now do so in the first half of this year, relinquishing his role with immediate effect and handing over as planned to current chief information officer Paul Penney.
“The functions that fall under Carlton Hood’s areas, including marketing and product, have moved under other areas of the business and therefore Carlton’s role no longer exists,” a spokesman stated. “Carlton Hood is exploring other opportunities within the wider Old Mutual Group.”
Mr Hood sat on the executive committee role responsible for product, proposition, brand, marketing, digital and business strategy for the UK, while Mr Charles was responsible for operational and business management across the firm’s UK, European and international business.
The group’s last major moves came in December, when OM Wealth hired Andy Thompson as chief executive of Intrinsic Financial Services, while chief distribution officer Mary-Anne McIntyre exited after only three months in the job.
This was a result of the “evolving management structure” within the wealth business and after “careful consideration”, according to a spokesman.
Also last month, OM Wealth appointed Martin Clubbs as pensions specialist in a bid to boost support for financial advisers on its platform.
peter.walker@ft.com
