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Misys director Ansell takes over as chief executive at DBS

Misys director Nick Ansell has been appointed DBS chief executive in a raft of changes to the network&#39s management.

When the deal was announced, DBS reassured members it would remain auton- omous. But some members are now questioning this in light of the restructuring.

The move will see DBS managing director Alan Taylor reporting to Ansell while Misys chief executive (financial services division) Ivan Martin joins the network&#39s board.

Ansell joined Misys in May 2000 when it acquired the IFA Network, which he set up in 1992. He was appointed to the Misys board and took on responsibility for its Financial Options network.

DBS chairman Ken Davy will take wider responsibilities across the Misys networks, including a non-executive director position on Misys IFA Services board.

Other changes include Misys financial services finance director Mark Wadelin and Misys IFA Services chief executive Patrick Gale joining the DBS board as non-executive directors.

As part of continuing growth plans, Misys Investment Services has been launched to provide fund portfolio services for all its members.

MIS inherits responsibility for the management of a portfolio of investment funds worth about £40m from Countrywide Asset Management and is aiming to compete head-on with multi-manager funds of funds from Jupiter, Portfolio Trust and Edinburgh Fund Managers.

Martin says: “It is Misys&#39 intention to continue to operate DBS as an autonomous business and the commitment of the existing management team at DBS is vital to its future success. Nick&#39s appointment is to add further experience and expertise to DBS to facilitate our continued growth.”

A DBS member says: “This is exactly what I expected. In these situations, the takeover company ends up a lot stronger and I now expect more changes.”

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