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James Hay parent hires Barclays investment director as chief exec

IFG Group, the parent company to wrap provider James Hay, has appointed Paul McNamara as group chief executive.

Subject to regulatory approval, McNamara will join IFG on 28 July.

Group finance director John Cotter has been acting as interim chief executive after Mark Bourke stepped down from the role in April.

McNamara is currently managing director insurance and investments at Barclays. He has held non-executive positions with network 2plan and accountancy firm Bentley Jennison Financial Management. He has also held senior roles at Standard Life, HBOS and Clerical Medical. 

McNamara says: “I am delighted to join IFG Group at this time of dynamic change in the marketplace.  I look forward to joining the IFG board, working with the group’s businesses and building on the clear momentum already underway.”

IFG chairman John Gallagher says: “I am very pleased to welcome Paul McNamara to IFG as group chief executive. His appointment reflects our continued commitment to building a strong management team for the group and is in line with our focused growth strategy.”

In March IFG sold its advice arm, IFG Financial Services to Ascot Lloyd.

In December the group confirmed it was in talks about a possible takeover, but the plans were later shelved. 

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