View the article online at http://citywire.co.uk/wealth-manager/article/a747907
Are CEO exits positive for the wealth sector?
by Eleanor Lawrie on Apr 25, 2014 at 14:32
All these senior figures had been in their roles for significant periods of time, and George Kirby, consultant at Knadel, agreed a period of change is healthy for the industry.
‘The desire to make a change is understandable both from the CEO and company point of view: to prevent the drive from the top going stale, particularly where the business is not owner-managed,’ he noted.
Like Dovey, Kirby thinks wealth management companies should consider bringing in talent from the outside. ‘New, external views would be good and bring challenge where it may have been lacking,’ he added.
Although investors dislike uncertainty, these changes in senior leadership can be viewed as a positive. The RDR, centralisation, and changes ushered in by the Budget mean the wealth management landscape has transformed greatly in just a few short years. A fresh pair of eyes could help these businesses recognise what their clients need, and how best to achieve this.
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