Brett Williams quits Cofunds
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Cofunds CEO Brett Williams has stepped down from his role with immediate effect.
Charlie Eppinger will return to the CEO role while the funds supermarket looks to recruit a permanent replacement for Williams (pictured).
Board member Simon Davies, chairman of Threadneedle, takes over from Eppinger as Cofunds chairman.
The Cofunds board has thanked Williams for his contribution to Cofunds and says that since joining in late 2008 Williams has played an important role in the business breaking through the £25bn AUA barrier.
Eppinger says: “Cofunds is a great company and has a strong management team already in place. The shareholders are keen to harness that strength and accelerate the pace of growth in the business to match the changes in the industry as a whole. The board recognises the need for continual investment and a real focus on serving our customers. We are committed to the success of the business and its continued independence.”
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Readers' comments (6)
Anonymous | 8 Jul 2010 10:55 am
Brett who ?
Been there a year so his contribution must be enormous. Where's he headed now ? Who cares ?
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Holly Mackay | 8 Jul 2010 11:21 am
This type of anonymous and personal comment is cowardly and unconstructive. Whilst our IFA research indicates that Cofunds still have a lot of work to do, they also have a lot of satisfied users.
This is obviously a time of great change for all platforms - especially the supermarkets who need to respond to the challenges of RDR and forthcoming greater ease of re-reg. These are big strategic decisions requiring a united senior management team and board.
Under Brett's stewardship, the facts are that AUA rose from £20.4bn in Sep 09 to £25.2bn in Mar 10. Platforms are difficult businesses to run and I think those numbers say something. I wish him well for the future.
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Anonymous | 8 Jul 2010 11:24 am
I think we can safely say that Brett failed - whoever he is!
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Anonymous | 8 Jul 2010 11:33 am
Brett who...? that was Mr Skandia.. :-)
Obviously all is not well in the Cofunds house..
....... but why does this warant comment, yet the MM story from their paper issue 8/7 that the Nest deficit will be £280,000,000 by launch owing to the fact that PADA now Nest Corp pay consultants 85K for one day a week..... seems suprisingly absent from these boards.. :-(
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Dr T Wain-Hobson | 8 Jul 2010 12:02 pm
I am a small IFA and have used Cofunds for the bulk of my investment business over the last 5 years. Whoever has been running Cofunds has done something right as the platform is brilliant. It is an elegant, cost effective solution, and it is very well regarded by clients. I hope that the new boss keeps the platform moving on in the same direction!
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Julian Stevens | 8 Jul 2010 12:27 pm
Why and why so very suddenly?
Apparently, he wasn't very well thought of at Skandia.
But he'll probably bounce into another high profile, mega-salaried job before too long. Who knows ~ he may even apply for the top job at the CPMA. That'd be a laugh.
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