Investment platform unveils boardroom reshuffle

Andy Bell

Manchester investment platform, AJ Bell, has today (August 18) announced a board room restructure.

Michael Summersgill has been appointed to the newly created role of deputy chief executive with effect from October 1, 2021.

He has held the position of chief financial officer since 2011 and is currently responsible for the company’s finance and operations functions.

In his new role, Michael will support chief executive Andy Bell with the development and execution of the company’s strategy to drive the future growth of AJ Bell’s platform propositions.

In addition, Roger Stott has been appointed to the newly created role of chief operating officer and will join the board on October 1, 2021.

Roger is currently group finance director and has had a broad range of responsibilities in his 13 years at AJ Bell. In his new role he will assume responsibility for the company’s operational functions, ensuring the business remains scalable and continues to deliver a great service to customers and advisers as AJ Bell continues to grow.

As a result of these changes, AJ Bell is currently conducting an external search for a new chief financial officer to join the board.

Margaret Hassall has been appointed as a non-executive director and will join the board on September 1, 2021. Margaret has a broad range of experience developed across a range of different industry sectors.

She has recently stepped down as a non-executive director of Nucleus Financial Group, where she chaired the remuneration committee, and was a non-executive director of OneSavings Bank until May 2020.

During her executive career, Margaret worked as a consultant for Deloitte for seven years, led the financial services consulting business for Charteris and previously held roles within some of the world’s largest banks.

Les Platts, chair of AJ Bell, said: “These changes will further strengthen the board, both at executive and non-executive level, as the business embarks on the next phase of its long term growth.

“The changes, together with the planned recruitment of a new chief financial officer, will bring greater experience and diversity to the board. This will benefit all of our stakeholders and enable the board to continue to maintain effective oversight as the business continues to grow.”

Chief executive, Andy Bell, said: “Our business is growing quickly and there are exciting opportunities to take advantage of in the investment platform market.

“It is important that we have the resources and expertise within the business to support this growth and that includes the board. I am as enthusiastic as I have ever been about the prospects for the business and I am looking forward to working with Michael, Roger, Margaret and the rest of the team as we embark on our next phase of growth.”