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Quilter plc announces Chief Financial Officer transition to take place in mid-March 2019

31 October 2018

Quilter plc (‘Quilter’) announces that Mark Satchel, currently Quilter’s Corporate Finance Director, will be appointed Chief Financial Officer in March 2019. Tim Tookey, currently Chief Financial Officer will be stepping down from the Board in March 2019.

Having made a significant contribution to the creation of Quilter plc as a standalone company and its subsequent listing in June 2018, Tim Tookey approached the Board to discuss his wish to return to a non-executive career, in order to enable a better work-life balance.  Tim and the Board have agreed that Tim will leave the business at the end of April 2019, having fully transitioned the role to his successor; he will step down from the Board on 13 March 2019. 

The Board is pleased to appoint Mark Satchel, currently Corporate Finance Director to the role of Chief Financial Officer, effective on 13 March 2019, at which point he will join the Board, subject to regulatory approval. Mark has a long history at Quilter having been a pivotal member of the Old Mutual Wealth Executive Committee for many years. Mark has also worked closely with Tim over the last two years on the preparation for the listing and driving the optimisation initiatives which remain on track for a March shareholder update. 

Glyn Jones, Chairman of Quilter plc said:  “I would like to thank Tim for his very significant contribution to the creation of Quilter.  We are sorry to see him go but he leaves with our best wishes for the future and his return to a plural career.  The Board is delighted to appoint Mark Satchel to succeed Tim.  Mark is very well known to the Board and highly regarded.  He has worked closely in partnership with Tim so we are confident of a smooth transition and continuity on key initiatives.”

Paul Feeney, Chief Executive said:  “Tim has made a great impact during his time with Quilter and played an instrumental role in preparing and delivering our listing.  Whilst I am sorry that we will be losing Tim, I am delighted that we have such an able successor in Mark. I have worked alongside him for many years and I am confident that he will be a very effective and talented CFO.” 

Tim Tookey, Chief Financial Officer said:  “Quilter is a great business, built on strong foundations and with excellent prospects; and I will remain a strong supporter and shareholder in the business.  I am delighted to be able to hand over to Mark, with whom I have built an excellent working relationship and who has all the skills and experience to undertake the role going forward.” 

 

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