Wren Sterling chair steps down as firm eyes more acquisitions

The chairman of the Wren Sterling Group, Ian Darby, has stepped down from the Nottingham-based financial planning firm.

Darby established the private equity-backed firm nine years ago, having led its buyout from the Towergate Group in 2015 and then its successful secondary buyout by Lightyear Capital in December 2021.

The move comes after Wren Sterling secured additional facilities to fund its ongoing M&A programme.

Darby will remain as a “significant” shareholder in the business and his position as executive chairman in Wren Sterling Financial Planning will not be replaced. Clementine Vaughan, a non-executive director of Magnus Financial Discretional Management will (subject to FCA approval) step up to become non-executive chair of Wren Sterling’s DFM.

James Twining, chief executive of the Wren Sterling Group said: “Ian’s retirement will mark the end of a remarkable career with Wren Sterling, from its original inception to the business it has become today. Under his leadership, Wren Sterling has made critical changes to its strategy, structure and organisation that position it strongly for future success. This work continues, and we thank Ian wholeheartedly for his leadership and contribution to our business.”

Darby said: “I am very proud of what has been achieved at Wren Sterling over the last nine years, in terms of what has been delivered both the shareholders and clients. Having led the business through its secondary buyout and helped embed the new management team and strategy, now is the right time for me to step down. I leave the business confident in its strategy, management team and long-term growth prospects.”