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Torquil Clark founder steps down to set up film firm

Torquil Clark managing director and founder Don Clark has stepped down to start a new film business.

Clark, who set up Torquil Clark in 1994 with PepDirect Pep dealing services, will become chairman so he can run a film company called Word of Mouth, dedicated to personal histories.

Finance director John Chapman, who joined the firm two years ago, will take over as managing director and is expected to lead development plans.

The firm, which has over 53,000 clients and 57 staff, including 10 IFAs, has been on the lookout for about eight months for smaller firms to become part of its business. The company wants to raise annual turnover to 10m.

A series of acquisition announcements is likely be made in the next few days.

PepDirect was developed into TQ Direct Choice after an influx of business and now offers a fund supermarket with over 800 investment funds and 55 fund managers.

Clark says: “John’s financial background and strong business direction will steer Torquil Clark through the expansion process. I am delighted to be placing the company in safe hands.”

Aifa acting director general Fay Goddard is renowned for her grasp of complex issues and she is aiming to help reduce the burden of EU regulation on IFAs

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