He will be replaced by Michael Summersgill, who has been with the firm since 2007 and is currently deputy CEO and chief financial officer.
Summersgill has held the CFO role since 2011 and will be succeeded by Peter Birch on 1 July.
Bell will remain on the board as a non-executive deputy chair, where he will continue to be “actively involved in evaluating future market developments and opportunities” along with “campaigning for fairness and simplicity for UK retail investors and financial advisers”.
Helena Morrissey, chair of the firm, said Bell would “remain an important member of the board”.
AssetCo delivers pre-tax loss of £2.6m following acquisition spree
The co-founder commented: “It has been an honour to lead AJ Bell as CEO, both as a private company for many years and more recently as a publicly listed business.
“I would like to thank our people, past and present, for helping to grow AJ Bell into the business it is today. It has been a fantastic journey so far and I am as excited as ever about the prospects for the AJ Bell.”
AJ Bell said this announcement was part of its board’s “long-established succession plan” and Summersgill has been working “very closely” with Bell to “ensure a smooth transition”.
Summersgill said the “foundations” for long-term growth were “firmly in place”.
“My focus will be on continuing to evolve our platform propositions and service capabilities to meet the ever-changing needs of advisers and customers,” he commented. “I am confident we have the right team in place to meet those needs and remain at the forefront of the investment platform market.”
Most Related Links :
Public News Time Latest News Sports News Finance News Automobile News