Rathbones chief executive Philip Howell has announced he will retire early next year, paving the way for a new head of the firm after six years in post.
Group finance director and Rathbone Investment Management managing director Paul Stockton will succeed Howell in the role.
Howell started his career at Barclays before moving into the world of private banking with Fortis. He was hired by Rathbones in 2013.
No formal leaving date has been set, but he will leave the board by the firm’s 2019 Annual General Meeting on 9 May 2019.
Howell says: “It has been my privilege to lead and work alongside the many talented professionals and dedicated support staff who compose Rathbones. I am very grateful for their considerable contribution to our success over the past five years. I look forward to working closely with Paul through the transition and I am confident that he will lead the firm to continued success.”
During Howell’s tenure, he has overseen a number of acquisitions, including wealth manager Speirs & Jeffrey, IFA network Vision Independent Financial Planning and the private client arms of Jupiter and Tilney.
Discussions with investment manager Smith & Williamson over another potential merger ended last year, however.
Rathbones chairman Mark Nicholls says: “Under Philip’s leadership, Rathbones has firmly established itself as the leading UK wealth manager and, on behalf of the board, I would like to thank him for the strong direction, unfailing commitment and dedication he has provided to Rathbones during his tenure.”