Chartered Financial Planning firm Fairstone has hired Sheriden Davy as group compliance director, with effect from January 2018.

His appointment is the latest addition to fast growing Fairstone’s senior management team and Mr Davy will also join the group’s executive committee. With over 15 years’ experience in the financial services industry, Mr Davy has held senior roles at Intrinsic, True Potential and Blackrock.

He joins Fairstone as successor to group operations director John Ripley who will retire in early 2018 after nine years at the helm of Fairstone’s risk and compliance function. He will hand over to Mr Davy between January and March 2018.

Fairstone says the appointment is part of a “significant investment” into Fairstone’s overall risk and compliance framework. The appointment also represents the first part of a recruitment programme which will see Fairstone bring on board another three individuals to its senior management team over the next 12 months. The investment follows the recent publication of Fairstone’s half year review which showed a strong start to 2017 with annualised revenues now at £50m.

Fairstone Group operations director John Ripley said: “We are delighted to welcome Sheriden to Fairstone. He joins a fantastic compliance team and will work in close partnership with Ursula Sweis who is also taking on a heightened role within the firm. Together they will ensure that the firm is well positioned to meet all of its regulatory requirements over the coming years.”

Fairstone chief executive Lee Hart, said: “Sheriden joins the team as we further gear up to meet our ambitious plans. Sheriden’s appointment further demonstrates our commitment to build a foundation that is more than strong enough to accommodate our next five years of growth.

“I would also like thank John Ripley for his invaluable service to Fairstone over the past nine years. John has been fundamental to our success and has been a business partner in the truest sense. He has left a stamp of quality across everything that he has touched and his influence within Fairstone has reached far beyond our risk and compliance function. Naturally we are sad to be losing John’s experience but we wish him very well for his retirement.”

Based in Newcastle upon Tyne with offices in London and Bristol, Fairstone is a national firm with 300 advisers and 130 staff, acting for over 41,000 clients. It oversees £7.4 billion of client assets with £4.7 billion of FUM.