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Kitchen leaves Lifeboat for new challenge

IFA group Lifeboat Financial chief executive David Kitchen has resigned after spending three years developing the business.

Kitchen says he is reviewing his options and plans to stay in the financial services sector.

Bill Wynn has been appointed acting chief executive. He joined the group in October 2002 as chief financial officer.

Kitchen was one of the founders of IFA Start Independent and Simply Assured which became part of Lifeboat Financial Group.

He intends to retain his 20 per cent shareholding in the group.

Since its relaunch in October 2002, the Lifeboat Financial Advisers net-work has grown to 150 RIs. The group also includes 1,500 agents on the non-regulated side and is establishing links with 280 other firms.

Kitchen says: “Every project has a lifespan and I feel that after three years building the business, it has run its course. I am not someone to sit back and do nothing and I am looking for a new challenge. I am going to take a bit of time out but I have got plenty of options. We have not parted on bad terms at all.”

Wynn says: “The board respect David&#39s decision and wish him all the best for the future.”


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Standard Life says it is in no financial difficulty and that discussions with the FSA over new solvency requirements are not crisis talks. Responding to newspaper reports that its spare capital is likely to fall to £2.5bn from £6bn under new reporting rules to come in next year, the life office says it expects later […]


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