Alliance Trust Savings has promoted sales and distribution director Patrick Mill to the newly created role of managing director.
ATS chief executive Robert Burgess stepped down in February. Mill will take on a number of Burgess’ former responsibilities.
Mill has been ATS distribution director since July 2010 following five years as sales director at Prudential.
Alliance Trust plc chief executive Katherine Garrett-Cox says: “Patrick has been instrumental in the growth of our savings business over the last two years and has proven in his role as distribution director that he has both the experience and leadership skills to drive the business forward and deliver long-term value for our shareholders.”
Mill (pictured) says: “The retail distribution review and the growth of the platform market present considerable opportunities to grow our business further as advisers seek to maximise value for their clients and continue to move assets onto investment platforms.”
ATS says it will reach profitability on a recurring monthly basis by December.
Money Marketing revealed this week that the firm has launced a new annual pricing model on its platform.