Tilney Smith & Williamson has appointed Chris Grigg as chairman designate.
Grigg is chairman of the newly formed UK Infrastructure Bank and is a senior independent director at BAE Systems.
From 2009 to November last year he was chief executive of real estate company British Land, and prior to that was chief executive of Barclays’ commercial bank and previously group treasurer.
Grigg will join Tilney’s board with immediate effect, and will take over as chairman from Will Samuel following FCA approval.
Samuel was appointed chairman of Tilney Bestinvest in January 2017, which subsequently became Tilney Group. Following the merger between Tilney and Smith & Williamson in September 2020, Samuel became the first chairman of the organisation.
Grigg said: “Tilney Smith & Williamson is now the UK’s leading integrated wealth management and professional services group.
"I will be working with Chris Woodhouse, our group chief executive officer, and the rest of the board to ensure we deliver a great service to all our clients.”
Samuel said: “I am very pleased to be handing over the chairmanship of the board of Tilney Smith & Williamson to Chris.
“Chris brings considerable experience to the firm and will help ensure that the transformational benefits of our merger continue to be realised. I’d like to thank everyone who made my time at the group so enjoyable and helped bring together two very successful and long-established businesses.”
Woodhouse added: “I am looking forward to working closely with Chris as we continue to realise the benefits of our recent merger and embark upon the next phase of growth and development.
“Chris has a distinguished reputation and I know his extensive financial services experience will be of huge benefit to the board as we consolidate our position as a group uniquely placed to support clients with the management of both their personal wealth and business interests.”
Tilney has had a busy year since completing its merger with Smith & Williamson September last year.
In January former chief executive of The Vanguard Group, Bill McNabb, joined its board of directors.
In March the firm acquired financial and investment advisory firm HFS Milbourne with £450m of assets under influence, including £350m under management.
The in May, Tilney posted a 47 per cent increase in operating income for 2020 as it began to reap the benefits of its merger.
The merger of Tilney and Smith & Williamson increased the combined group’s operating income to £306bn for the year.
Assets under management increased to £51bn in 2020 from £26bn in 2019, including £22bn acquired through the merger.