Your Industry  

SPW's commercial chief to head up wealth manager

SPW's commercial chief to head up wealth manager

Wealth manager Kingswood Holdings has looked to rival Schroders Personal Wealth for a chief executive to head up its UK operations. 

Former SPW chief commercial officer David Lawrence is set to join Kingswood as its UK chief executive and will lead its national growth plans as a director of the company's UK subsidiaries. 

He previously held leadership roles at Lloyds Banking Group and in 2014 served as commercial director and chief operating officer at the bank's private banking and wealth businesses with a focus on its mass affluent strategy. 

Most recently Mr Lawrence worked in the top role at rival wealth manager Schroders Personal Wealth, the joint venture between Lloyds and Schroders. 

Mr Lawrence said Kingswood's UK business had a healthy pipeline of acquisition opportunities. 

He said: "My early focus will be on converting these, integrating them and delivering accelerated organic growth through our regional hubs.

"A complimentary focus on creating enhanced client experiences through an optimal blending of technology and adviser interaction and the development of progressive, relevant and great value client propositions, will further fuel growth as well as bringing operational efficiencies."

The company has been vocal in recent years about its plans expand through acquisition in both the UK and US, securing £80m of funding in September last year with investment management firm Pollen Street Capital to fund its pipeline. 

Most recently its UK business completed the purchase of Surrey-based IFA Regency Investment Services in a deal worth up to £4.6m and which gained it £320m in assets under management.

Gary Wilder, group chief executive at Kingswood, said the new appointment would drive the company through its next phase of growth.

Mr Wilder said: "As the business continues to expand, we want to ensure we have an experienced industry leader in place to accelerate our growth plans including our best in class DFM proposition and to drive synergies and efficiencies from our integration efforts. In David we believe we have that person."

rachel.mortimer@ft.com 

What do you think about the issues raised by this story? Email us on fa.letters@ft.com to let us know.