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CORRECT: AJ Bell hires former Hargreaves Lansdown director as chair

21st Apr 2023 17:54

(Correcting spelling of Fiona Clutterbuck.)

(Alliance News) - AJ Bell PLC on Friday named Fiona Clutterbuck as its incoming non-executive chair, effective from May 1.

Back in September, current chair, Helena Morrissey, announced plans to step down once her successor was appointed. Morrissey had joined the Manchester-based investment platform provider in July 2021.

The company said it believes Clutterbuck will be "the ideal person to lead the board and help AJ Bell capitalise on the growth opportunities that exist in the investment platform market".

Clutterbuck is currently a non-executive director of Sampo PLC and Co-operative Bank PLC. She also is the senior independent director of M&G PLC but intends to step down from that role at the company's annual general meeting on May 24.

Clutterbuck was previously a non-executive director of AJ Bell rival Hargreaves Lansdown PLC and was chair of Paragon Banking Group PLC until September 2022.

In her executive career, Clutterbuck was head of strategy, corporate development & communications at Phoenix Group Holdings PLC.

Chief Executive Officer Michael Summersgill said: "Fiona has a wealth of experience in our sector and will be able to support and challenge the executive team whilst leading the Board as we continue to grow the business."

AJ Bell on Thursday had reported that customer numbers and assets under management and administration increased in the second quarter of its financial year.

Shares in AJ Bell closed up 0.1% to 336.60 pence each in London on Friday.

By Sophie Rose, Alliance News reporter

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