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Royal London poaches PosSol compliance director

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Positive Solutions risk and compliance director Ricky McKinney is joining Royal London as head of compliance intermediary.

McKinney replaces Tom Elliott in the role who is retiring after 29 years with the provider. He will report directly into head of regulatory risk and compliance James McCourt.

A note sent out to partners by PosSol chief executive Peter Coleman confirmed McKinney’s departure.

McKinney will officially leave PosSol in September having been in the role since October 2012.

PosSol says McKinney was offered the job prior to the firm’s acquisition by Intrinsic in June.

The acquisition deal saw former PosSol parent Aegon take a 7 per cent stake in Intrinsic.

McKinney’s role will be taken up by Intrinsic’s compliance team.

The note to partners says: “I write to inform you that after 10 years with Positive Solutions, Ricky McKinney will be leaving us during September.

”Although from a business perspective I am disappointed that Ricky has decided to leave, I am personally delighted for him and his family that he has been offered a very senior position that, at this stage in his career, is too good to turn down.”

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. Good luck Ricky.

    I never thought the day would come that you would leave PS.

    Enjoy RL and say hello to James for me.

  2. Good luck Ricky, you will be missed.

  3. notpositiveanymore 22nd August 2013 at 10:12 am

    So this is the first of the management team jumping ship.

    Although Pete has said its going to be a case of business as normal (both now and in the future), you’d have to wonder why someone like Ricky would uproot him and his family from Newcastle to Edinburgh if the prospects were so rosy?

    Is this a case of the writing being on the wall here for the Newcastle HO, with operations there being shut down and merged with Intrinsic’s head office? That would certainly make sense due to the size of the operation in Swindon and the geographical proximity of most of the management team to that area.

    Please don’t see this as being a knock at Ricky – good on him I say – but more a case of someone senior in PS knowing something that the rest of us don’t. Lets hope that the hardworking staff in HO take heed of this and begin looking for new employment prospects now, before its too late for them.

  4. Notpositiveanymore…..read the article:

    PosSol says McKinney was offered the job prior to the firm’s acquisition by Intrinsic in June.

    Him leaving has nothing to do with the PS changes now or in the future

  5. notpositiveanymore 22nd August 2013 at 1:02 pm

    Herdman – so do you think Intrinsic just rocked up and bought PS in June, or do you think they conducted a diligence process over a number of months in which Ricky and his other fellow directors were involved in?

    Don’t be so naive to believe corporate statements.

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