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Saunderson House chief quits after 18 years

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Saunderson House chief executive Nick Fletcher has quit the IFA firm after 18 years.

Fletcher, who became chief executive in 2003, has quit the IFG-owned firm to pursue other interests, with director Tony Overy appointed interim managing director.
London-based Saunderson House is currently looking for a long-term replacement for Fletcher.

A Saunderson House spokesman says: “Saunderson House can confirm that Tony Overy is acting as the company’s interim managing director following Nick Fletcher’s recent departure from the business. Tony has been with the company for 22 years and has served on the board of directors for 15 years.”

IFG bought Saunderson House for £7m in 2001. The firm currently has 22 advisers and over 100 employees in total.

Last September, IFG and private equity firm Bregal Capital terminated discussions over a proposed £205m takeover.

IFG had announced in May that it was in talks with two firms over a possible acquisition and in August signed an exclusivity agreement with Bregal.

The talks were terminated, with IFG saying: “In view of the current dislocation in global markets, both IFG and Bregal have agreed to discontinue discussions.”

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Readers' comments (3)

  • A great shame.
    It just won't be the same firm any more.
    Others will inevitably follow..........and then the clients.

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  • Many people would disagree with the comment above.
    Only good things can come from this announcement for clients and staff.

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  • Absolutely. This is one executive change that will certainly prove beneficial for all involved.

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