Quilter’s chief executive Paul Feeney will step down from his role at the end of this month after heading up the business for 10 years.
He will hand over to platform boss Steven Levin from the beginning of next month, subject to regulatory approval.
Levin previously managed Quilter’s £202mn replatforming, which took two years to migrate 8,000 advice firms over and finished in February 2021.
We have…transform[ed] the business from a predominantly closed life book business into the modern, publicly listed wealth manager it is today.Paul Feeney, outgoing CEOAlongside the investment platform, he has also led Quilter’s Affluent segment since its formation.
Levin joined Quilter over 24 years ago, in June 1998.
On his departure, Feeney said: “After 10 great years, it’s time to pass the baton…I am immensely proud of what we have achieved, transforming the business from a predominantly closed life book business into the modern, publicly listed wealth manager it is today, with around £1bn returned to shareholders since listing.
“Having achieved what I set out to do, I believe that now is the right time for me to hand over to Steven, my very able successor, to take Quilter on the next stage of its incredible journey”.
Following its FNZ platform revamp, Quilter’s net flows reached £3.5bn last year - up 133 per cent on Quilter’s previous platform net flows.
Amid these rising inflows last year, Quilter re-structured its group into a high net worth focused arm and one catering to affluent individuals.
In last year’s results, it also claimed to have made “a meaningful step-up” in productivity with total restricted adviser numbers falling from 1,765 to 1,563.
Feeney did say, however, that the business anticipates a return to adviser number growth this year.
On his appointment, Levin said: “I am fortunate to be inheriting a strategically well positioned business with a strong balance sheet.
“I am immensely grateful to Paul personally for his support over the years and to the board for the trust they have placed in me to lead the business.”
Levin initially joined the then-called Old Mutual Group in Cape Town, South Africa. He relocated to London in 2010 as Old Mutual’s product and proposition director, before becoming managing director in 2011 ahead of the businesses’ rebrand.
ruby.hinchliffe@ft.com
