The chairman of Intrinsic will be standing down from the network’s board in March, amid several changes to its management.
Lord Leitch will remain an adviser to the Intrinsic board until June.
He will also be standing down from his position as non-executive director of Old Mutual Wealth at the same time.
Gregor Stewart, who has been an independent non-executive director of Intrinsic since September 2015, will become chairman in April, subject to regulatory approval.
Andy Thompson, chief executive of Intrinsic, said: “Sandy’s [Lord Leitch] contribution to Intrinsic, as well as Old Mutual Wealth, has been immense.
“As a founding shareholder, director and chairman of Intrinsic, he has been pivotal to the success of our business through its start-up phase and was instrumental in the acquisition of the business by Old Mutual Wealth in July 2014.
“Gregor is an excellent choice to replace Sandy as our Chairman. As an independent non-executive director, he has provided excellent guidance and support to our business over the last 15 months.”
Wallace Dobbin, who announced his retirement from full-time employment recently and has been replaced by Gill Davidson as Intrinsic’s chief risk officer, has agreed to become a non-executive director of Intrinsic in May 2017, subject to regulatory approval.
Old Mutual Wealth has appointed Moira Kilcoyne, who recently retired as co-chief information officer at Morgan Stanley, and Cathy Turner, the former chief administration officer at Lloyds Banking Group, to its board.
Lord Leitch has been chairman of Intrinsic since it was established in 2006 and was previously chief executive of Allied Dunbar.
He became a Labour peer in 2004 and carried out the Leitch Review, commissioned by the government into the UK’s optimal skills mix for economic growth.
Lord Leitch said: “Creating and building Intrinsic from a standing start 11 years ago has been one of the proudest achievements of my life.
“Consequently, deciding to step down as chairman has been an enormously difficult personal decision.
“However, I depart with real confidence that Intrinsic, and Old Mutual Wealth, will continue to flourish as they both have vast potential and strong leaders.”
