Wealth manager and Financial Planner Evelyn Partners has appointed former Paysafe and Betfair CFO Alex Gersh as its new chief financial officer and an executive director.

The appointment is subject to regulatory approval.

Mr Gersh will replace existing CFO Andrew Baddeley, who has been in the role since 2018 but has moved to be CFO at S&W, Evelyn Partners’ former professional services business, following the completion of its sale last month.

Mr Gersh has more than 30-years’ experience and was most recently CFO of the global payments business Paysafe, in which CVC and Blackstone were major shareholders.

Before that, he was CFO of Sportradar, where he led a successful $7bn (£5.23bn) IPO on NASDAQ. He was also formerly CFO of online sports bookie Betfair through its merger with Paddy Power, and then CFO of the combined group, Paddy Power Betfair, since renamed Flutter.

He started his career in the 1980s as an accountant with Ernst & Young in New York before moving to London in the mid 1990s to work for mobile phone business Motorola.

Paul Geddes, chief executive of Evelyn Partners, said: “Alex will be a fantastic addition to the leadership team at Evelyn Partners. He joins us at a pivotal time for the business, which has recently undergone a significant strategic transformation to refocus the firm solely on wealth management where we see excellent growth opportunities.”

Last month Evelyn Partners completed the sale of its professional services business to funds advised by Apax for an undisclosed amount.

The deal resulted in two standalone businesses: Evelyn Partners, a UK wealth manager, and S&W, a UK professional services firm.

The name S&W harks back to Smith & Williamson, the accountancy firm that merged with wealth manager Tilney to create Evelyn Partners in 2020.

Evelyn Partners had £63bn of assets under management as at 31 December 2024.

In March it reported a 12% rise in profits for 2024 despite a 68% drop in net inflows (year-on-year).

Earlier last month it appointed a new Financial Planning director for its London team, as well as two Financial Planners and an investment manager to its Leeds and Newcastle offices.

In December it added a new Financial Planner in London to boost its near 300-strong national Financial Planning team.