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Curtis Banks chief financial officer resigns

Curtis Banks chief financial officer Paul Tarran has decided to step aside from the role.

The major Sipp operator says it has started the search to recruit a new CFO after Tarran notified the board of his intention to stand down and resign from the board by the end of 2019.

Tarran, who has been in the role since 2012, overseeing the business’ IPO in 2015, has said he will stay in post until a successor has been identified, but no details were provided on his next position.

He has been with Curtis Banks since the firm was founded in 2009.

Tarran says: “I’ve hugely enjoyed my near 10 years with Curtis Banks and I’m immensely proud that it has grown into one of the UK’s market leading pension companies during that period. The time is now right for me to take a step back from the business as the board continues to focus on the opportunities ahead. I look forward to working with my successor to ensure a smooth transition”

Curtis Banks has been on the acquisition trail since listing, notably buying up rival Suffolk Life in 2017. Most recently, it picked up a £180m Sipp book from wealth manager Hargreave Hale in December.

While Sipp sales across the market have increased since the freedoms, many have put part of this down to money coming from defined benefit pension transfers.

In results released in September, Curtis Banks noted a slight dip in new Sipp sales in the first six months of 2018 compared to a year previously as advisers expressed more concerns over being caught out on DB transfers.

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