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Andrew Fisher to leave Towry; Ex-Pru boss joins as chief exec

Towry has appointed former Prudential UK chief executive Rob Devey to head up the company, and has announced Andrew Fisher is stepping down with immediate effect.

Devey has been appointed chief executive, subject to regulatory approval, with Fisher stepping down after eight years in the role. He joined the company in 2004 as chairman.

Towry recently appointed former Northern Rock boss Ron Sandler as executive chairman.

Fisher says: “Having led the growth of the company from a small local firm to a highly profitable national business which today employs 750 people, managing in excess of £5.5bn assets under management, I am confident the company is well positioned to continue its leadership of the sector.

“I will be leaving Towry with a strong management team and in excellent financial and operational shape for further success in 2014 and beyond. I look forward to continuing my career in the wealth management sector.”

Devey says: “I am very excited to take over as chief executive of Towry. Towry is a great business and I look forward to leading its next phase of development. The company is well placed to further increase its scale whilst continuing to deliver an outstanding service to its clients.”

Devey left his role as Pru UK chief executive in October, after former Standard Life chief financial officer Jackie Hunt joined the insurer to lead its UK and Europe division. He received a total pay package worth almost £3.5m in 2013, with £2.5m paid through bonuses and the insurer’s long-term incentive plan.

When he left Devey took on a non-executive director role at Octopus Investments.

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Comments

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  1. goodness gracious 16th April 2014 at 11:01 am

    I wonder what happens to his share options, my understanding is if you are not employed by Towry at the IPO, you lose the options given to you. Mega money losses for Mr Fisher.
    So he has to Fish in a different stream, perhaps all his old contacts within the FSA have gone and his business model is not going exactly to plan. I bet he regrets the takeover of EJ now!

  2. To be flushed away at last…

  3. A man of bizarre viewpoints – such as writing and telling Gordon Brown that commission was the reason for the credit crunch!

    The world will be a duller but saner place without him.

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