Ashcourt Rowan appoints Polin CE

Former Ignis sales and marketing director Jonathan Polin has been appointed group chief executive of Ashcourt Rowan.

Polin replaces Mark Cheshire, who is stepping down with immediate effect as part of a reshuffle that will see interim chairman Kenneth “Buzz” West promoted to non-executive chairman. Polin will join the firm on September 2.

Stephen Haines has joined the Ashcourt Rowan Board as a non-executive director. Haines is an executive director at Dwyer Asset Management, a company owned by a significant shareholder of Ashcourt Rowan. As a result, he is not regarded as independent.

Polin says: “The wealth management sector is hugely exciting and is set for significant growth and opportunity. Ashcourt Rowan has a strong brand, committed individuals and a firm platform on which to grow organically and through acquisitions.

“The time is right to seize the opportunities that the retail distribution review, the talent migration to the sector and consolidation in the industry presents to create a truly vertically integrated financial services business and deliver the best advice to clients and real shareholder value.”

Polin was sales and marketing director at Ignis Asset Management for seven years and left in June 2011.

In July, Ashcourt Rowan Asset Management senior duo Guy Stephens and Tim Cockerill both quit the firm to join Rowan Dartington.

Chairman Peter Dew also resigned and stepped down from its board of directors and independent director West was appointed as interim chairman. Ashcourt Rowan acquired Co-op IFA in September 2010 for an undisclosed sum.

Chelsea Financial Services managing director Darius McDermott says: “It is a big change for Jonathan Polin to move to wealth management, with his history in asset management. It is a different challenge but he is a very experienced person and I am sure he will do a good job.”