David Lawrence, the CEO of quick rising wealth supervisor and Monetary Planner Kingswood Holdings, has give up.
He might be changed by ex-Constructive Options CEO and Chartered Accountant Peter Coleman as interim CEO, topic to FCA approval.
A search is beneath method for a everlasting substitute.
AIM-listed and personal equity-owned Kingswood introduced the sudden exit of Mr Lawrence to the Inventory Trade this morning.
Mr Lawrence, who has constructed the corporate into a major presence within the Monetary Planning market, resigned to the board just lately.
Mr Lawrence has overseen fast growth at Kingswood though there have been latest studies that the corporate was up on the market, a transfer it dominated out final October.
Mr Lawrence has headed the corporate, which has a global arm, for 4 years and oversaw over 20 acquisitions and integrations, development in AUM, an growth to roughly 20,000 shoppers and the mixing of IBOSS.
Latest outcomes confirmed that group income was at £86.2m, up 37.7% on final 12 months, whereas working revenue was at £10.8m, up 37.9%. Kingswood employs about 400 employees.
Mr Coleman has huge business expertise together with a spread of government management roles as CEO, CCO and CFO. He labored at Monetary Planner and wealth supervisor Succession Wealth and at Wealth Wizards and was CEO of nationwide IFA Constructive Options.
David Hudd, Chairman, stated: “On behalf of the board, I want to thank David Lawrence for his excellent contribution to Kingswood’s success and to congratulate Peter Coleman on his new function. Peter comes with robust credentials and I’m certain he’ll convey a lot vitality to an already robust enterprise.”
Mr Lawrence stated: “The final 4 years have been a transformative interval for Kingswood. It’s now a extremely skilled enterprise with equally robust funding administration credentials, and with the help of our major buyers, Pollen Road Capital has made and built-in over 20 acquisitions with AuA/M now approaching £10bn.
“We might not have achieved any of this with out the unstinting dedication of all of our colleagues, our buyers and our board, whose help throughout my tenure I’m deeply grateful for.”
Mr Coleman stated: “I’m delighted to affix Kingswood at this thrilling time for the enterprise. Kingswood has grown quickly and has stable foundations, and I stay up for persevering with the work to ship a firstclass service to our shoppers and wealth planners via operational excellence.”
