Current chief executive Steve Murray has become the commercial and strategy managing director at Standard Life.
Murray will continue to sit on the 1825 executive team by assuming the newly created position of chairman “to support the continuation of the acquisition and growth strategy of 1825”, the firm said.
Following the merger with Aberdeen Asset Management, the parent company has been rebranded Standard Life Aberdeen. However, the pension and savings related business, which includes 1825, is still called Standard Life.
Growth through acquisitions
The newly-appointed chairman said he expects 1825, which has over 8,000 clients and assets under administration of £3.4bn ($4.4bn, €3.7bn), to announce further acquisitions.
“We are looking to move to the next phase of development. Our acquisition pipeline is very healthy and we continue to explore exciting opportunities,” Murray said.
He became chief executive of the Standard Life-owned business at the end of 2014.
Under his leadership, 1825 has acquired advice firms Baigrie Davies, Jones Sheridan, Munro Partnership and Pearson Jones. The latter was bought in May 2015 and brought in assets of £1.1bn and 39 advisers and paraplanners.
A further acquisition of Almary Green was called off by “mutual agreement” in September 2016.
Promotion
The firm has replaced Murray by promoting its chief operating officer Julie Scott into the position of chief executive.
Scott was part of the team that launched 1825 and has been with the company for three years. She will remain on the Standard Life executive committee.
New hire
Old Mutual Wealth’s regional director for West Yorkshire, Michael Wall, has been poached by 1825 to focus on business development.
Before Old Mutual, Wall held a variety of senior roles with a number of firms including Openwork, Berry Birch and Noble FS and Sedgwick, as well as a period of running his own consultancy firm.
