Brighton and Hove-headquartered IFA group Skerritts has hired Paul Feeney as chief executive, subject to regulatory approval.
He takes over from Skerritts founder Richard Skerritt, who will remain on the board as non-executive director.
Feeney is the former chief executive of wealth management giant Quilter. Prior to Quilter, he held a number of senior roles in the wealth and asset management sector, including group managing director of Gartmore Investment Management, and chief executive of NatWest Private Bank.
The appointment comes two years after private equity firm Sovereign Capital Partners invested in Skerritts to help the IFA group pursue a buy and build acquisition model.
Since then, the business has completed nine acquisitions including the most recent purchase of Horsham-based financial planning firm Mercier Allen & Associates for an undisclosed sum.
‘Leading wealth manager’
Feeney said: “Skerritts has all the right building blocks and, importantly, the right values to become one of the leading wealth management businesses in this country, and with the continued backing of Sovereign Capital, that’s exactly what we are going to create.”
Richard Skerritt added: “I am immensely proud of Skerritts and what we have created over the last 30 years. The business provides clients with a holistic wealth management offering, and following Sovereign’s investment in early 2021, we have further invested in our capabilities.
“The technology roadmap for the next 18 months is very exciting. Paul’s significant sector experience will allow the Group to reach its full potential and I look forward to supporting the business and Paul as a continuing board member and non-executive director.”
