Cavanagh Group has made a series of board changes which marks the completion of its rationalisation after its purchase of Ernst & Young Financial Management last October.
E&YFM chief executive and deputy chief executive Ken Timmins and Charles Gillespie are joining the main board as chief operating officer and group sales & marketing director respectively.
Mark Liley has resigned as a director of the main board but will continue as a director of Cavanagh Financial Services and as a senior adviser within the IFA.
Talks between the two IFA firms were originally reported in Money Marketing last July. The deal saw the listed Cavanagh acquire Edinburghbased E&YFM, which has specialised in fee-based advice to high-net-worth individuals, often as an offshoot of its parent company's corporate advisory practice.
Cavanagh chief executive Andrew Faye says: “Charles Gillespie and Ken Timmins were key to the Ernst & Young Financial Management business in how it was managed and we welcome them in terms of the business growing. Mark Lilley has been focusing on building his own client base and, as he saw it, it was better for him to resign.”