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Bankhall abandons search for new chief exec to replace Mann

Bankhall has abandoned its search for a new chief executive to replace Peter Mann who left the firm to join Skandia last October.

The support services provider had previously said it would search externally for a replacement, but this week’s Money Marketing reveals that no new chief executive will be appointed.

Instead Bankhall’s five board members – managing director of IFA services David Golder, financial director Darren Veevers, chairman Mike Gordon, director of IT and e-business Dave Rimmer and non-executive director Ron Baxter – will take the reins with the help of senior managers below board level.

Golder says: “Because we have an extremely strong management team within the business, we do not feel the need to appoint a chief executive at this stage, but of course we will review our options in the longer term. This is the way we want to take it forward. Recruiting a chief executive remains an option for the future but it is absolutely off the cards for now.”

Mann left Bankhall in October to take on the role of chief development officer at Bankhall’s parent company Skandia. Mann, who started at Bankhall in 2001 and became chief executive in 2005, is in charge of the marketing, strategy, sales and communications teams at the provider.

On departure he insisted Bankhall would search externally for a “special person” to drive the business forward.

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