Towry, the Financial Planning and wealth management firm, has appointed a new chief financial officer from Legal & General.

Wadham Downing, who joined Towry on 9 November, has held a number of senior group positions at Legal & General including group chief financial officer and group mergers and acquisitions and strategy director.

He has also held various roles at Resolution and Britannic.

Mr Downing will be a member of the Towry board and will take on the role of chief financial officer, subject to FCA approval.

He will report directly to Rob Devey and succeeds Paul Wright who will remain within the business and on the Towry board until he retires in June next year.

Mr Devey, chief executive at Towry, said: “We are delighted to welcome Wadham to the firm at what is an exciting period in our growth following the successful acquisition and integration of Ashcourt Rowan.

“I would also like to thank Paul for his outstanding contribution to the growth and success of Towry over the last seven years. We are fortunate that we will continue to benefit from his skills and experience over the coming months.”

Mr Downing said: “I am very excited at the prospect of joining Towry at a time of significant change in the Financial Planning and wealth management industry.

“The business has built a compelling proposition and I look forward to working alongside such a dynamic and well-respected leadership team to help execute the firm’s long-term growth strategy.”

Towry provides Financial Planning, wealth advice and investment management services to private individuals, families and trustees.