SchrodersJun 30 2020

Schroders Personal Wealth recruits ex-Openwork chief as CEO

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Schroders Personal Wealth recruits ex-Openwork chief as CEO

Mark Duckworth has been appointed as chief executive of Schroders Personal Wealth, following Peter Hetherington’s departure from the advice firm earlier this month.

SPW said today (June 30) that Mr Duckworth, previously chief executive of national advice network Openwork, would join the joint venture between Schroders and Lloyds Bank in September following a period of gardening leave.

James Rainbow, previously chief executive of SPW and currently acting CEO, will remain at the helm until Mr Duckworth’s arrival later this year. He took over earlier this month as Mr Hetherington left after just eight months in the role. SPW said at the time of the departure that it had already identified a successor.

The appointment of Mr Duckworth, who was replaced at Openwork by former Rathbones boss Philip Howell, is subject to regulatory approval.

Having launched towards the end of 2019 and established 11 regional hubs earlier this year, SPW has ambitious expansion plans as it bids to become one of the top three advice firms in the UK. The company said Mr Duckworth's experience would be "vital" to achieving its goals.

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