Hugo Thorman of Ascentric
Intermediary platform Ascentric - which is owned by Royal London - is to recruit a managing director as current MD Hugo Thorman moves up to become executive chairman.
The company says that, "this is a reflection of the continued growth of the business and planning for management succession."
Clive Boothman, current non-executive chairman, will remain on the board as a non-executive director.
Hugo Thorman has held a number of executive roles within the retail financial services sector including chief executive of James Hay and intermediary marketing director of Abbey National. He has been involved in platforms since the launch of the James Hay Wrap in 2003.
Ascentric, IFDL and Fundsdirect are trading names of Investment Funds Direct Limited (IFDL).
Investment Funds Direct Limited was founded in 1982, and Fundsdirect launched as one of the UK's first online fund supermarket in December 1999.
Ascentric is a wrap platform available exclusively to financial advisers.
Royal London Group is to merge a number of brands under the Royal London name but Ascentric will not be among them. Brands to be merged include Scottish Life, Bright Grey and RLAM.
Royal London is a mutual life and pensions company with group funds under management of £73.5 billion.
