Fast expanding SIPP provider Curtis Banks is to see a major management change next year as deputy chief executive Will Self steps up as CEO while current CEO Rupert Curtis will step aside but remain in “an active role” as Founder and Senior Adviser.

Will Self, who was chief executive of Suffolk Life before joining Curtis in 2017, will become group CEO in January. 

Jane Ridgley will also join the board in January as chief operating officer.

The changes were announced today as the company reported strong first half profit figures.

Pre-tax profit was up 17% to £4.8m in the first half of this year as revenue increased by 7.5% to £23m. The company’s own SIPP numbers were 3,512 with total SIPPs administered at 77,552.

Assets under administration rose 9% to £25.1bn (2017: £23.1bn). An interim dividend of 2p per share was declared (2017: 1.5p).

Rupert Curtis, chief executive of Curtis Banks, said: “We made good progress during the first half of the year and these results show encouraging growth in profits during a period in which we concentrated on completing our consolidation activities and preparing the launch of our new SIPP proposition.

“We have focused on further investment in the business to support continued organic growth and build on our position as the UK’s largest dedicated SIPP provider.  This has involved developing a new sales team and a new SIPP proposition, both of which will be operating in the second half of this year. 

“We are well positioned to grow the business and are also proactively exploring possible acquisitions. The investments we are making across the business put us in good stead for the future, broadening our penetration of the SIPP market and creating further shareholder value.

“As this is my final set of results as chief executive I would like to thank all of our valued shareholders for their continued support, and I am very pleased to have a strong successor in Will Self who will start in this position in January 2019. I am delighted to confirm  that I will remain actively involved as a senior adviser to the business.”