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Strauss to head Lifetime wrap

Norwich Union has appointed the former boss of John Scott & Partners and John Charcol. Toby Strauss. to head its Lifetime wrap.

Strauss, who begins immediately, will report directly to NU chief executive Mark Hodges with the title Lifetime managing director.

Strauss co-founded and has been working for IT support company OrderWork since May 2006 and has been non-executive director of Kensington since June 2005.

He worked at John Charcol between 1999 and 2002 becoming managing director before moving to JS&P as chief executive.

A key early decision that Strauss will face is which third-party IT provider to partner with in a bid to revamp the platform. It is understood that an initial short list was compiled late last year but no one has yet been chosen.

NU soft-closed its wrap last year after suffering a number of technical issues and is currently not promoting itself to advisers. Many in the industry have been questioning the wrap’s future.

The firm says the appointment shows its long-term commitment to the platform.

A spokesman for Norwich Union says: “This is a very senior appointment because we take Lifetime seriously and want to get it right.”

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