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European Wealth boss to step down

European Wealth boss to step down

The chief executive of European Wealth Management Group, Roderick Gentry, is to resign from the board of directors at the end of April.

The wealth manager today (25 April) announced Mr Gentry would be standing down from his position on the board and his role as chief executive.

He has been a board director of the firm since it launched in 2010, and according to executive chairman John Morton he has made a “significant contribution” towards the development of European Wealth.

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Mr Gentry previously worked alongside Mr Morton as chief executive of Ashcourt Rowan Asset Management.

This comes seven months after European Wealth purchased the financial planning business of legal firm Bells Solicitors Limited for £675,000 as it continues to grow through acquisitions.

Mr Morton said: “The group is indebted to him for his efforts over the last six years in helping to build the business we have today.

“The board and the management team would like to place on record their appreciation for his dedication, and wish him all the best for the future.”

Patrick Connolly, certified financial planner at Chase de Vere, said: “When a chief executive leaves this can cause uncertainty amongst key stakeholders such as employees and investors

“Those running the company need to reassure people they won’t be disadvantaged and that the business has good prospects, which will involve having a well thought-out communication strategy and listening and dealing with any concerns.

“The good news is that there are many examples of where a chief executive leaves and, with a change of direction at the top, the business is more successful in the future.”

katherine.denham@ft.com