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Chase de Vere chief Kennedy leaves in shake-up

Chase de Vere chairman Ian Kennedy, who is also chief operating officer of owner Bank of Ireland UK Financial Services, is leaving the group in a management shake-up.

As part of the restructuring, Roy Keenan is being brought over from Dublin, giving up his role as group chief development officer, to become BoI UK Financial Services chief executive in charge of Chase de Vere, national IFA MX Financial Solutions and Bristol & West.

From March 1, Keenan replaces Jeff Warren who has been given a newly created role “responsible for group transformation” and “a range of key support functions.”

BoI says it is not planning to fill Kennedy&#39s position.

BoI paid £110m to buy Chase de Vere in 2000 and agreed a second payment of up to £22.5m based on performance.

The performance part of the deal was concluded in the last fortnight and industry sources estimate that the figure paid was only £15m.

Chase de Vere marketing director David Newman says: “It is very much business as usual but there will no doubt be changes within the group as a whole but this will be a matter for the new chief executive to decide – it is very early to speculate.”

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