International tax, financial and estate planning firm Fry Group has appointed David Pugh, current chief strategy and commercial officer as the new chief executive officer, with effect from April 2022.
Jeremy Woodley (pictured left), the current chief executive officer, will move to the position of chairman of the group, which manages over £2bn in assets.
Over the next 12 months, both appointments will be phased in to “enable a smooth operational transition period”.
Pugh (pictured right) managed the Fry Group’s Singapore operation from 2010, after working at Hargreaves Lansdown and Truestone Asset Management in the UK, taking a board position at Fry Group in 2018.
Woodley joined the group in 2005 and led the team for 11 years before taking up the role of chief executive officer in 2018.
Pugh said: “Our ultimate aim, as always, is to ensure that The Fry Group continues to maintain its relevance and offer intelligent advice to support our clients and their families, helping each one achieve financial freedom.
“In this new phase we're also keen to concentrate on doing well by doing good, with a new corporate social responsibility policy and a stronger focus on the wellbeing of our team."
Woodley added: “Times and global markets change, and we have seen nothing short of a significant shift in the way we all live and work in the past 12 months.
"Taking up the role of chairman allows me the scope to consider broader market trends, with the aim of growing our global position as a leading independent wealth management company."
The Fry Group was established in 1898 and operates from eight geographical locations across the UK, Europe, Middle East and Asia.
Ruth Gillbe is a freelance reporter for FTAdviser