Your IndustrySep 20 2017

European Wealth CEO exits after absence

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European Wealth CEO exits after absence

European Wealth’s chief executive John Morton has decided to leave the company.

Mr Morton, who was the last founder of the company still serving on the board, will be replaced by Marianne Ismail.

The reasons for Mr Morton’s decision to leave European Wealth have not been disclosed, but earlier in September the company announced Mr Morton was to take "an agreed leave of absence" with immediate effect.  .

Buzz West, the company’s chairman, said: “European Wealth is grateful to John for the vision, hard work and dedication which he has put into successfully growing the group over the last seven years. 

“Whilst we are sorry to see him leave, we are also excited about the future.”

Ms Ismail has been a non-executive director of European Wealth since December 2015 and had been serving as chief executive on an interim basis.

She has previously been a managing director in Morgan Stanley's asset management business in London and New York, chief executive of global wealth management Europe at Citigroup and head of private banking for Europe, Middle East and Africa at Standard Chartered Bank.

Mr Morton was involved in establishing European Wealth in 2010 and in the seven years of his stewardship, the business has built assets under management of over £1.7bn with offices in five countries.

damian.fantato@ft.com