Further changes at the top of Quilter

Further changes at the top of Quilter

Quilter, formerly Old Mutual Wealth, has announced further changes to its executive team as its chief financial officer has decided to depart the company.

Tim Tookey, who was appointed chief financial officer of Old Mutual Wealth in April 2017, will step down from the Quilter board on 13 March 2019 and leave the company in April.

He will be replaced by the current chief corporate finance director, Mark Satchel, who has worked for Old Mutual in the UK since 2000.

In a statement, the company said Mr Tookey decided to step down from his role because he wanted to achieve a better work-life balance through a non-executive career.

Glyn Jones, chairman of Quilter, said: "We are sorry to see him go but he leaves with our best wishes for the future and his return to a plural career."

Paul Feeney, chief executive of Quilter, said: "Tim has made a great impact during his time with Quilter and played an instrumental role in preparing and delivering our listing.

"While I am sorry that we will be losing Tim, I am delighted that we have such an able successor in Mark. I have worked alongside him for many years and I am confident that he will be a very effective and talented CFO."

Over an 18-year career with the now-defunct Old Mutual PLC and more recently Quilter, Mr Satchel has held several finance roles within the company's operating units, including Skandia and Old Mutual Wealth.

Mr Tookey's departure from Quilter follows a string of changes to the company’s executive team since its listing on the London Stock Exchange in June 2018.

In October, Steve Braudo, the chief operating officer, left the company to pursue other opportunities, while Martin Baines, chief executive of the company’s wealth management arm, Quilter Cheviot, also stepped down.