Quilter Cheviot  

Quilter Cheviot chief Loudon to retire

Quilter Cheviot chief Loudon to retire

Martin Baines is to return as Quilter Cheviot chief executive after current head David Loudon announced he will retire at the end of June.

Mr Loudon, who only replaced Mr Baines as chief in 2015, will now end a 40-year career in financial services this summer but remain an adviser to the business.

Mr Baines' return from higher up in the business comes as Quilter's parent company, Old Mutual Wealth, undergoes a "managed separation" from insurer Old Mutual.

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In 2015 Mr Baines was promoted to lead Old Mutual Wealth's investment division, encompassing Quilter Cheviot and Old Mutual Global Investors, after 12 years in charge of the discretionary management firm.

The returning chief executive will continue reporting to Old Mutual Wealth chief executive Paul Feeney in his new role, and remain a member of the firm's executive committee.

Mr Baines said: "David has worked tirelessly for Quilter Cheviot in building a substantial business and I pay tribute to his loyalty and dedication as our firm has grown."

Mr Loudon added: "I will step down from my role knowing that Quilter Cheviot will be led by Martin and our highly experienced leadership team and that, working together, they will continue to grow."