Allfunds Bank head Alan Gadd to step down

Allfunds Bank head of UK and Ireland Alan Gadd is stepping down from his role at the end of April.

Gadd, who joined Allfunds Bank in 2009, will continue to act as a consultant to the London office focused on implementing the RDR. Gadd was retail business director at Morley fund management, now Aviva Investors, from 2001 until 2005. He was also managing director of retail at HSBC Global Asset Management from 1995 until 2000.

Allfunds Bank global head of distribution and deputy general manager Gianluca Renzini has assumed direct responsibility for the management of the London office and Gadd will report to him in his consultancy role.

Renzini says: “Allfunds sees the RDR as an opportunity to grow its presence in the UK region and we intend to focus additional resources in the market to enhance our proposition.”