Old Mutual Wealth this morning (8 September) announced the appointment of John Porteous as retail customer solutions director.
This is a newly created role at Old Mutual Wealth.
Mr Porteous was previously employed at Towry from 2014 to March of this year, where he was head of client proposition.
Towry was acquired by Tilney Group in April 2016.
Prior to joining Towry he worked at Baker Tilly, where he was head of wealth management.
Mr Porteous role will involve creating a new retail customer solutions team within the business.
The team will work across different business units within Old Mutual Wealth and focus on customers who have more than one Old Mutual Wealth product.
Mr Porteous appointment at Old Mutual Wealth comes at a time of significant change for the firm, which is preparing to come to market via an IPO, as it splits from South African parent company Old Mutual.
Earlier this week we reported that the fund manager Richard Buxton is preparing a bid to buy the Old Mutual Global Investors business, which is currently part of Old Mutual Wealth.
It was announced this week that the multi-asset division of Old Mutual Global Investors, which has around £11bn of assets is being split-off from OMGI.
Mr Porteous said: “I’m delighted to be joining Old Mutual Wealth at such an exciting time for the business, as it prepares for its proposed listing in 2018.
"It is extremely exciting for me to have the opportunity to be part of that journey and help shape the customer experience through our end-to-end wealth management solutions.”
Paul Feeney, chief executive of Old Mutual Wealth, said: “John joins us to focus on enhancing the experience and outcomes for those customers who choose to access multiple parts of our proposition, and his appointment adds significant expertise and experience to our business at a crucial stage in our evolution.”
Alastair Cunningham, financial planning director of Wingate Financial Planning, said the main thing investors want amid corporate change is stability.
david.thorpe@ft.com
