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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, who is retiring after 29 years with the provider. He will report to head of regulatory risk and compliance James McCourt.

A note sent to advisers last week by PosSol chief executive Peter Coleman confirmed McKinney’s departure.

Coleman said: “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.”

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.

PMI Independent Financial Advisers director John Stewart says: “I am sure a company like Intrinsic have the compliance capability to take over McKinney’s duties.”

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