Quilter’s incoming chair steps down from board

Quilter’s incoming chair steps down from board
Quilter’s chair designate Glyn Barker is leaving the board

Quilter’s chair designate Glyn Barker has stepped down from the company’s board.

Barker was due to take over the role of chairperson from Ruth Markland in September, but has now announced he will leave the board for personal reasons.

Barker’s exit will see Markland continue as chair of Quilter.

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She said she was “disappointed” by her successor’s early departure, but that she “very much” understood his personal reasons for it.

On her re-appointment, Markland said she looked forward to delivering good outcomes for stakeholders “in the coming years”.

She began steering Quilter when the company was listed in June 2018.

Alongside Barker’s board exit, Quilter announced the appointment of Tim Breedon as senior independent director.

The business has also undergone a big change to its leadership team this year, with chief executive Paul Feeney stepping down last month after heading up Quilter for 10 years.

Feeney handed over the reins to Steven Levin, who previously managed Quilter’s £202mn replatforming which took two years to migrate 8,000 advice firms over and finished in February 2021.

In its third quarter results, Quilter reported a 2 per cent dip in its assets under management and administration to £96.9bn from £98.7bn.

The company has navigated “a challenging market backdrop” this year, with both bond and equity values declining over the summer.  

Net inflows were at £200mn for Q3, down from £1bn during the same period last year, and down from £300mn in Q2.