Beggs, who is originally from the Isle of Man, had been with IFS since 2005, and his career in financial services dates back more than 15 years. Previous roles included around five years with Zurich International Life on the Isle of Man.
No one is being named to succeed Beggs at IFS, according to chief executive Tim Kiln, who said Beggs's duties will be assumed by him and other senior managers at the firm, which, like the Henley Group, is among Singapore’s best-known ex-pat focused advisory firms.
In addition to Singapore, IFS also has offices in Hong Kong and Qatar, and is one of just four firms thus far licenced to advise clients in Qatar.
Response to FAIR
According to a Henley Group spokesman, Beggs will be involved in carrying out the review and revamping of the company's business model – which, as reported in November, the Henley Group brought forward, and modified, after the Singaporean regulator announced a major review of its financial services industry last March.
At the time, Henley Group managing director Antony Michell told International Adviser: "It was evident to us that [the Financial Advisory Industry Review] represents a tremendous opportunity for quality IFAs to develop their overall client value proposition."
Henley Group has been looking after expatriate investors in Asia for 22 years, and currently has offices in Hong Kong, Singapore and Shanghai. Counting all three of its offices, it employs more than 50 advisers, and has assets under advice of close to $1bn.