AJ Bell PLC Appointment of Chair (0833X)

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RNS Number : 0833X

AJ Bell PLC

21 April 2023

21 April 2023

AJ Bell plc

Appointment of Chair

AJ Bell plc ("AJ Bell" or the "Company"), one of the UK's largest investment platforms, is pleased to announce the appointment of Fiona Clutterbuck as the non-executive Chair of the Company with effect from 1 May 2023. The Board believes that Fiona is the ideal person to lead the Board and help AJ Bell capitalise on the growth opportunities that exist in the investment platform market. Fiona will also join the 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.

Fiona was previously a non-executive director of Hargreaves Lansdown plc, was the chair of Paragon Banking Group plc until September 2022 and is currently a non-executive director of Sampo plc and Co-operative Bank plc. Fiona is also the senior independent director of M&G plc but intends to step down from that role at the conclusion of the company's AGM on 24 May 2023. In her executive career Fiona was H ead of Strategy, Corporate Development and Communications at Phoenix Group plc, having previously held banking roles with ABN AMRO Investment Bank plc, HSBC Investment Bank plc and Hill Samuel Bank Limited .

As announced on 27 September 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 30 April 2023.

Commenting on today's announcement, Michael Summersgill, Chief Executive Officer of AJ Bell, 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."

Commenting on her appointment, 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."

There is no other information regarding the appointment to be disclosed under paragraph 9.6.13R of the Listing Rules.

Contacts:

AJ Bell

 
 
        *    Shaun Yates, Investor Relations Director    [phone] 
 
        *    Charlie Musson, Brand and PR Director       [phone] 
 

About AJ Bell:

Established in 1995, AJ Bell is one of the largest investment platforms in the UK, operating at scale in both the advised and direct-to-consumer markets.

Our purpose is to help people invest by providing them with easy access to Pensions, ISAs and General investment accounts, great customer service and competitive charges.

Our two core platform propositions are AJ Bell in the D2C market and AJ Bell Investcentre in the advised market, which both provide access to a broad investment range including shares and other instruments traded on the major stock exchanges around the world, as well as all mainstream collective investments available in the UK and our own range of AJ Bell funds.

In the D2C market we also offer Dodl by AJ Bell, a low-cost investment app with a simplified investment range that makes it easier for customers to choose investments and buy and sell them without paying any commission.

For D2C cash savers we offer a Cash savings hub which provides access to a range of competitive savings accounts to help people manage their long-term cash deposits.

AJ Bell is headquartered in Manchester, UK, with offices in London and Bristol.

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April 21, 2023 06:30 ET (10:30 GMT)