The chief executive of Sanlam Investments UK has joined the board of fund platform Nucleus, in which its parent company is the biggest shareholder.
Alfio Tagliabue has taken up the role as a non-executive director at the company with immediate effect, replacing the board's current Sanlam UK nominee Jeremy Gibson.
As part of the relationship agreement between Nucleus and shareholder Sanlam, the latter is entitled to two board appointees.
Mr Tagliabue has been the chief executive of Sanlam Investments since 2017, having joined Sanlam UK in 2016 as its chief financial officer.
He started his career in 1992 at analysis consultancy Frost & Sullivan and will now also become a member of the risk and audit committees at Nucleus.
Edinburgh-based wrap platform Nucleus floated on the Alternative Investment Market in June 2018, with a market cap of around £140m.
In a statement to the market this morning (February 26) Angus Samuels, chairman at Nucleus, said: "Alfio brings strong financial experience and an extensive knowledge in the asset and wealth management industry - he will be a valuable adviser and contributor to both the board and the Nucleus business and we all very much look forward to working with him.
"I would also like to wish Jeremy well in his future endeavours and thank him for his valuable contributions to the company. The board has benefited hugely from his expertise during his time as a non-executive director."
Last month Nucleus announced assets under administration on its platform rose by £444m in the final quarter of 2019, which it predominately attributed to positive market movements.
The number of advisers using the platform rose to 1,442 at the end of 2019, a 3.3 per cent increase on the previous year, with a combined 96,857 customers.
rachel.mortimer@ft.com
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