Mr Regan will replace Jon Taylor, who is stepping down after over three years leading the business, from 31 May.

Mr Regan joined Royal London in 2014 and is currently Royal London group operations director and has been involved in the oversight of the operational aspects of the Ascentric business for the last 12 months and, more recently, as a director of the board.

He has “extensive” financial services operations and commercial experience gained both from Lloyds Banking Group, where he led their direct to consumer general insurance business and Legal & General Insurance, where he held the post of chief operating officer.

Phil Loney, chief executive of Royal London, said: “Jon leaves the business having achieved what he set out to do.

“Under Jon’s leadership the first phase of Ascentric’s re-platforming has been delivered very successfully and he moves on with our thanks, leaving behind a business with a redefined proposition, award winning customer service, and a strong, experienced team to build on this strong foundation.

“Rob brings with him a solid operational and commercial background built up over many years, coupled with significant experience of leadership and transformation. Once the re-platforming is complete, Rob will lead Ascentric into the next phase of its growth, taking advantage of the new technology and all that it has to offer.”

Mr Regan said: “I am joining Ascentric at a very exciting time, with the re-platforming programme well on the way to completion.

“Thanks to Jon and his team the business is much better-placed to serve the future needs of advisers, with a competitive proposition, much improved service and a robust future-proofed new platform.

“We will continue to invest in improving the adviser experience, quality of investment offerings and the competitiveness of the platform as we strive to be slick and efficient and provide the best adviser experience in the platform market.”