AJ Bell rings changes at board level to push investment platform forward

AJ Bell appoints third woman to the board

AJ Bell has made changes to its management in order to reflect its plans for new growth opportunities.

The investment platform has added two new leadership roles and the third woman to a board that has previously faced criticism for a lack of representation.

AJ Bell on Wednesday announced that current CFO Michael Summersgill will take up his new position as deputy chief executive on October 1.

The firm has began an external search to find a new CFO, after Summersgill held the role for a decade.

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Roger Stott, the current group finance director, will take on the role of chief operating officer, while Margaret Hassell is set to join AJ Bell as a non-executive director.

Les Platts, outgoing chair of AJ Bell, said: “These changes will further strengthen the board, both at executive and non-executive level, as the business embarks on the next phase of its long-term growth.

“The changes, together with the planned recruitment of a new chief financial officer, will bring greater experience and diversity to the board. This will benefit all of our stakeholders and enable the board to continue to maintain effective oversight as the business continues to grow.”

CEO Bell added: “Our business is growing quickly and there are exciting opportunities to take advantage of in the investment platform market.

“It is important that we have the resources and expertise within the business to support this growth and that includes the board.

“I am as enthusiastic as I have ever been about the prospects for the business and I am looking forward to working with Michael, Roger, Margaret and the rest of the team as we embark on our next phase of growth.”

AJ Bell has £70.4bn in assets under management, the company confirmed at the end of Q2.

The AJ Bell share price (LON:AJB) is up by 0.26% during the morning session on Wednesday.

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