Board room big hitter appointed as new AJ Bell non-exec chair

Board room big hitter, Fiona Clutterbuck, has been appointed as non-executive chair of Manchester investment platform, AJ Bell.

Ms Clutterbuck will take on the role from May 1, 2023.

She was previously a non-executive director of Hargreaves Lansdown, was the chair of Paragon Banking Group until September 2022, and is currently a non-executive director of Sampo and Manchester-based Co-operative Bank.

She is also the senior independent director of M&G but intends to step down from that role at the conclusion of the company’s AGM on May 24, 2023.

In her executive career Ms Clutterbuck was head of strategy, corporate development and communications at Phoenix Group, having previously held banking roles with ABN AMRO Investment Bank, HSBC Investment Bank and Hill Samuel Bank.

AJ Bell says it believes Fiona is the ideal person to lead the board and help it capitalise on the growth opportunities that exist in the investment platform market.

She will also join the company’s nomination committee, as chair, the risk and compliance committee and remuneration committee, and take on the role of the designated non-executive director for engagement with the workforce.

As announced on September 27, 2022, the current chair, Baroness Helena Morrissey, informed the board of her intention to step down when a new chair had been found. The timing of Helena leaving the board will be confirmed in a subsequent announcement by April 30, 2023.

AJ Bell chief executive, Michael Summersgill, said: “I am delighted that Fiona will be joining the board. Fiona has a wealth of experience in our sector and will be able to support and challenge the executive team whilst leading the board as we continue to grow the business.”

Fiona Clutterbuck said: “AJ Bell is a business I’ve long admired for its innovation, customer focus and commitment to delivering great value to customers and advisers.

“Its dual-channel business model is a real strength in the investment platform market and the business is very well positioned to take advantage of the structural growth drivers in the sector.

“I look forward to working with Michael, the rest of the board and executive team to ensure the business takes advantage of the growth opportunities that lie ahead.”