Honister Capital has replaced chief executive Mark Lund with current chief operating officer Richard Pearson.
Honister chairman Mark Tennant says Pearson (pictured) and Lund worked closely together leading up to and following the creation of the company.
He says: “Having led the business from its launch through a successful first period of trading, Mark Lund is leaving Honister. Mark feels that now is the right time to do this, having built a stable platform for Honister’s future.”
In the first set of consolidated audited accounts for the 15-month trading period since inception in June 2009, the Honister Capital group of companies generated operating profit of £5.2m, with £3.1m coming from direct to consumer business Willis Owen.
Honister’s advice businesses, Burns Anderson, Sage Financial and Honister Partners, contributed £2m of operating profit.
The company has also reported £11.2m of cash reserves.