Williams is head of Skandia’s wealth management business and the founding chief executive of Selestia, which merged with Skandia following the Old Mutual acquisition in 2005.
Earlier this week, Skandia revealed it would be ditching the Selestia brand and developing a full wealth management wrap under the Skandia Investment Solutions banner, headed by Skandia UK chief executive Nick Poyntz-Wright.
Cofunds’ current chief executive Charlie Eppinger is to continue as chairman following Williams’ appointment. Cofunds is looking to support advisers with a range of commission and fee structures and it hopes that Williams’ exper-ience will help with this dev-elopment.
Norwest Consultants principal Harry Katz says: “The Selestia culture and service was not a patch on Skandia’s. If Williams tries to fit in with the Cofunds culture, that is fine but if he tries to impose that of Selestia, I won’t be very relaxed.”