IFA group Lamensdorf is restructuring its board ahead of its proposed flotation and further acquisitions.
The move will see group chairman Ken Newell take the reins as chief executive while existing managing director Howard Williams moves across to become business development director. Will-iams, who also becomes dep-uty chairman, built up Lamensdorf with his wife and fellow board director Lorraine Williams.
Newell joined Lamensdorf a year ago with the aim of pushing the group towards flotation through an acquisition strategy. The group now has IFA firms in Europe, Japan and the Middle East and acquired Maddison Monetary Man-agement last March when its UK IFA arm was rebranded LM Financial.
Newell says: “This restructuring is all part of us putting the right team in place for our initial public offering and reflects our increasing emphasis on the acquisition and international expansion strategy which Howard is going to lead.
“This is part of a bigger picture of us getting our house in order before we go public.”