PosSol chief exec Jim Reeve steps down
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Source: Troika
Positive Solutions chief executive Jim Reeve is leaving the firm to be replaced by commercial director Peter Coleman.
Reeve (pictured) has left the Aegon-owned firm to pursue alternative opportunities within the financial services sector. He joined PosSol in September 2007.
Coleman joined PosSol in March 2011 and is a former Burns-Anderson director. Aegon says he will work with risk and compliance director James McCourt to complete the firm’s preparation for RDR transition.
Aegon executive chairman of distribution Patrick Gale says: “I would like to thank Jim for his significant contribution to Positive Solutions over the last four and a half years. Peter and James’s knowledge of the business and their track record make them an ideal team to lead the firm to future success.”
Peter Coleman says: “Positive Solutions has the right strategy to be one of the winners post-RDR. I’m delighted to be given the opportunity to lead Positive Solutions at such an important time for the firm and the industry.”
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Readers' comments (10)
A Lakey | 22 Feb 2012 11:55 am
What are these "alternative opportunities" that everybody - Reeve, Cole, etc are so keen to pursue.
Am I missing out on something?
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terry | 22 Feb 2012 12:22 pm
Or they have seen the writing on the wall post RDR and getting out whilst the going is good.
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Ned Naylor | 22 Feb 2012 12:56 pm
Good on him, I think he has seen the light or should I say "shadow" being cast on our industry by the slavish adherence of the regulator to the cliff edge timetable for RDR implementation. Operating a practice post RDR with its voluminous fees and levies is going to put a number of networks to the wall and many other smaller, up to now, efficient iFA businesses.
Alternatives - Woodturning - chuck a piece of wood on to a lathe, rotate it at around 500-1000 rpm, bang a chisel on it and shape it into something useful or beautiful.
Much more satisfying personally. Not viable as a way to earn a living, but hey who cares? Most IFAs will soon regret getting qualified for RDR as it will not increase consumer confidence, nor will it produce growth in savings and investments and pensions. Consumers will dive into the myriad of direct websites being set up thinking they will get a better deal, never mind the quality, feel the width !
Doomed! We are all Doomed!!!
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Exasperated Me | 22 Feb 2012 1:02 pm
Anybody fancy a game of "Fantasy Financial Services"?
FFS for short..
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Paul Nash | 22 Feb 2012 2:07 pm
Perhaps he's heard about the imminent vacancy at Chelsea, and needs some time to brush up on his russian?
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Anonymous | 22 Feb 2012 2:14 pm
"Pushed before being Shoved"
No doubt with a large Pension Pot to benefit from.
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Anonymous | 22 Feb 2012 3:38 pm
Spring is approaching and he needs to get his garden into shape!
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Anonymous | 22 Feb 2012 5:11 pm
well now he has destroyed a perfectly good company, what else can he do other than jog on.
well done jim, it only took you 4 years.
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Anonymous | 22 Feb 2012 6:56 pm
Good Luck to you Jim!
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Anonymous | 23 Feb 2012 10:33 am
Just to correct a few comments above.
Jim was given a hospital pass by Aegon, who blew £100m on buying PS without buying the real value - the clients or IT system that ran it. There was a lack of compliance structure, insufficient HO resource and little management control.
He had to rebuild it and that costs money, time and bodies and many PS Partners left as the once cosy little ship was rocked.
PS is a sinking ship because it owns none of the intellectual property or clients, which is Aegons fault. But at least Jim bought everyone sometime to consider their options and the sheer frustration of dealing with the utterly directionless Aegon led to his departure
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