Reshuffle at top of Quilter as Sharkey leaves

Reshuffle at top of Quilter as Sharkey leaves
Amanda Cassidy, managing director of advice for Quilter Financial Advisers

Quilter has reshuffled the leaders of its advice arms, with Darren Sharkey leaving the company, as it mulls a sale of its international business.  

The wealth management giant has created two managing director of advice roles to oversee Quilter Financial Advisers and Quilter Private Client Advisers.

Mr Sharkey, who is currently managing director of the its national advice business, will leave the company later this year. 

Article continues after advert

It comes as the business confirmed it had begun a "strategic review" of Quilter International, which could result a sale of the international arm. 

The restructure at the top of Quilter focuses on client segments, with its high-net worth service and broader mass affluent offering now each led by its own managing director. 

Michelle Andrews will take the helm of Quilter Private Client Advisers with a focus on financial planning for higher net worth clients. 

Ms Andrews has held several commercial roles at Quilter including positions across international distribution, UK and international product development and most recently as its chief marketing officer.

Amanda Cassidy, who was most recently deputy head of Quilter Financial Advisers, has been appointed to head up the service which focuses on the mass affluent market. 

Mr Sharkey, who currently runs both Quilter Private Client Advisers and Quilter Financial Advisers, will leave at the end of the year to "explore other opportunities".

MsAndrews said: "Given the impact of the Covid-19 pandemic for many, clients need advice more than ever.

"We know that regardless of wealth, advised clients are more disciplined with their investments. I’m really looking forward to developing and growing support for advisers of higher net worth clients."

Ms Cassidy added: "In the past year we have brought several businesses together within our national advice business and as we work together as a new entity it is vital that we have a proposition that fits our client needs and offers them the best possible service." 

International sale on the cards 

The reshuffle comes as Quilter confirmed last night it had initiated a strategic review of its international business, Quilter International. 

The company said: "In the context of Quilter's long-term strategy and ambition, the board has initiated a strategic review of Quilter International to evaluate its role in delivering Quilter's future growth ambitions.

"The review is at an early stage and as such the outcome is not yet known. Options range from a decision to retain Quilter International through to a disposal of the business." 

It said no decision had yet been made and there was "no certainty that any potential transaction would be concluded". 

Quilter International, which is based on the Isle of Man, provides cross-border wealth management and offshore savings and investment solutions.


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