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Simon Hudson steps down as Tenet chief

Simon Hudson has stepped down as chief executive of Tenet Group.

Hudson (pictured) says he has left because the commitments required by the RDR would have meant him having to stay in the role for a further five years.

He founded the firm in 1992. During his time as chief executive the company has grown to employ 250 people and has just over 5000 advisers in total.

Hudson says: “The implementation of the RDR will open up new opportunities for the company but it would have required me to commit to a further five years as chief executive. In these circumstances I think it is time for a change.”

He adds he “fully intends” to stay in the financial services industry.

Tenet Group chairman Lord Hodgson says: “Simon is one the people who have helped transform the IFA industry from a series of sole practitioners to a properly regulated profession. His enthusiasm and commitment has driven Tenet forward. A search for his successor is already underway.”

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

  1. At his best Simon was a voice to be reckoned with but latterly not much has been heard of him outside of Tenet. Of course Simon has seen the majority of shares purchased by several product providers and therefore he could no longer articulate the independent voice he was known for. As a reward he, like many other Network directors will have taken his thirty pieces of silver in his buyout. I have always maintained that certain Networks have maintained “radio silence” over RDR due to the massive increase in trail fees they can expect as a result of RDR and the anticipated 2.7 million plus orphan clients. I can’t blame Simon and in the same position I’d do the same. Good luck Mr Hudson and enjoy your retirement.!

  2. Good luck in the future Simon whatever you do. I worked at Tenet and it was a pleasure to be part of the Group. You were a visionary (and no doubt still are).

    Best Wishes

  3. Interesting following Peter Lane (Group Commercial Director and Deputy CEO)’s less high profile departure departure earlier in the year. Perhaps the four main (90%) product provider shareholders aren’t too enamoured with the continuing losses…

  4. All I know is that Simon Hudson sold all his shares to the providers and left all the minority shareholders, like network members with no ability to sell. He tied in network members under a Member Reward Scheme for one year notice period with a promise of share benefits. All I can say is think of us when you are counting your money.

  5. Nick named Eddie the Eagle, similar high flyer who came down to earth with a bump!

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