View more on these topics

Intrinsic chairman steps down from network and Old Mutual board

Lord Leitch

Intrinsic chairman Lord Leitch will step down from the network’s board at the end of March.

He is also resigning his non-executive director position at parent provider Old Mutual Wealth.

Former Alliance Trust deputy chairman and Lloyds Banking Group finance director Gregor Stewart will take over as Intrinsic chairman in April, subject to regulatory approval.

Stewart has been a non-executive director at Intrinsic since September 2015.

Former chief risk officer Wallace Dobbin will fill Stewart’s role as a non-executive director at Intrinsic after having retired from full-time employment.

Leitch describes creating a building Intrinsic 11 years ago as “one of the proudest achievements of my life”.

He adds: “Consequently, deciding to step down as chairman has been an enormously difficult personal decision.  However, I depart with real confidence that Intrinsic, and Old Mutual Wealth, will continue to flourish as they both have vast potential and strong leaders.”

Intrinsic chief executive Andy Thompson says: “Lord Leitch’s contribution to Intrinsic, as well as Old Mutual Wealth, has been immense. As a founding shareholder, director and chairman of Intrinsic, he has been pivotal to the success of our business through its start-up phase and was instrumental in the acquisition of the business by Old Mutual Wealth in July 2014.



Intrinsic poaches chief risk officer from Tenet

Old Mutual Wealth-owned Intrinsic has hired Tenet regulatory director Gill Davidson as chief risk officer. Davidson replaces Intrinsic founding board member Wallace Dobbin, who is retiring from full-time employment. He will remain with the business to manage the transition. Davidson spent three years at Tenet, and previously held senior roles at Coventry and Skipton building […]

Intrinsic pulls out of Tenet bid

Intrinsic has pulled out of a deal to buy network Tenet after months of deliberation, Money Marketing can reveal. The Old Mutual-owned network called time on the talks because a price could not be agreed upon and there were concerns the acquisition itself would take too long to complete. It is understood the impending break-up […]

Business Chair Board Room Meeting Portfolio 480.jpg

Intrinsic bids for Tenet as Aviva eyes mortgage arm

Old Mutual Wealth-owned network Intrinsic has made a “non-binding” offer for Tenet as part of a possible break-up of the business, Money Marketing understands. It is believed Aviva – which already owns a 47 per cent stake in Tenet – has also tabled a bid specifically focused on TenetLime, the network’s mortgage and protection business. The […]


Just Retirement and Partnership unveil branding following merger

JRP Group, formed after the merger of Just Retirement Group and Partnership Assurance last year, is changing its name to Just. The new branding will be rolled out across the group in stages, starting this month with all “individually underwritten retirement income solutions” at the firm. The company is listed on the London Stock Exchange as […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment