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Platform technology provider SEI has appointed former Cofunds chief executive Brett Williams as UK managing director. He replaces Ryan Hicke, who has been promoted to senior vice-president. Williams was Cofunds chief executive between 2008 and 2010. He previously held chief executive roles at Selestia and Skandia UK. Since leaving Cofunds, Williams has been involved in alternative investments as co-owner of private equity firm LW².

Psigma Investment Management has hired Tim Wishart as investment director to lead its expansion into Scotland. Wishart joins from Rathbones, where he occupied the same role. He spent 12 years at Rathbones and has been working out of its Edinburgh office since 2007.

Christopher Rodrigues has been appointed chairman of Openwork Group, replacing Kate Avery. Rodrigues is chairman of consumer lending business International Personal Finance. He was previously president and chief executive of Visa International and group chief executive of Bradford and Bingley.


Former Royal Bank of Scotland chief executive Stephen Hester has been appointed group chief executive of RSA Insurance Group. He will take over from chairman Martin Scicluna, who has been temporary chief executive since the resignation of Simon Lee in December.

J.P. Morgan Asset Management has created the role of head of investment trust sales for new recruit Tim Mitchell. Mitchell joins from Investec Bank, where he was co-head of investment companies. He has spent his whole career in the investment trust sector, beginning in 1993.


Former executive chairman of PMS John Malone has been appointed chairman of Front Events. Malone retired from the mortgage industry at the end of last year, after more than 50 years working in the sector.

Former Goldman Sachs managing director James Kelly has taken on a part-time advisory role with the FCA. Kelly was managing director of derivatives cross product sales at Goldman Sachs between 2007 and 2012. In his new role he will advise the FCA’s wholesale banking and investment management division on supervisory strategy.

Roland McCormack has been selected as TSB Bank’s first mortgage intermediary director. The former managing director of Bristol & West Mortgages and Connells Asset Management brings with him 20 years’ experience in the intermediary market.

Nigel Speirs

Changes at Sanlam UK have resulted in English Mutual chief executive Alex Morley replacing Nigel Speirs as chief executive of Sanlam Private Wealth. Morley will continue to oversee English Mutual, the advice firm acquired by Sanlam in 2012, while Speirs remains as Sanlam UK’s head of distribution.



Richard Verdin: Aren’t all life premiums ‘loaded’?

It’s been a while since I wrote regularly for Money Marketing. I now work for a reinsurer, last time I was an insurer, before that an online broker and before that a face-to-face adviser. What can I say, I get around. However ‘getting around’ has allowed me to understand many perspectives. I recently had a lot […]

Steve Webb

Govt eyes three-year ‘sunset clause’ for pre-RDR group trail ban

The Government is considering a three-year “sunset clause” as part of proposals to ban pre-RDR commission linked to automatic enrolment schemes, Money Marketing understands. In September, the Office of Fair Trading asked the DWP to consult on banning pension schemes being used for auto-enrolment that contain “built-in” adviser commission or that penalise members with higher […]


Pensions minister Webb proposes one-year annuity ‘cooling off’ period

Pensions minister Steve Webb has floated the idea of giving annuity customers a one-year “cooling off” period in a bid to tackle the “in built bias” in the current system. The Liberal Democrat MP caused a storm earlier this year when he suggested annuities should be switchable, with experts warning the reform would see rates […]

Trade bodies unite to boost advice profession

Major financial services trade bodies have agreed to work more closely on campaigns such as financial planning week at their first industry workshop. The inaugural meeting was hosted by the Personal Finance Society at its London offices for 11 other professional and trade bodies. Those attending included the Association of British Insurers, the Association of […]


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