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(Alliance News) - Wealth management firm Quilter PLC on Thursday said it has appointed former Legal & General Group PLC chief executive Tim Breedon to its board as a non-executive director.
Breedon's appointment is effective from June 1 and follows the March 11 announcement that directors Cathy Turner and Suresh Kana are to step down from the board following Thursday's annual general meeting.
The former Legal & General CEO is currently a non-executive director at Barclays PLC and Barclays Bank PLC and chair of Apax Global Alpha Ltd, and previously was executive chair of Northview Group.
"Tim will provide challenge, advice and support to Quilter management on business performance and decision-making. Tim's appointment will support the Quilter board in overseeing the delivery of long term sustainable success for Quilter using his extensive financial services experience, deep understanding of risk management and UK and EU regulation, as well as an understanding of key investor issues," said Quilter.
Glyn Jones, Quilter's chair, said: "Tim brings a unique blend of experience and expertise as a former CEO in a highly successful FTSE 100 savings and pensions business, and as a very seasoned non-executive director in both a FTSE 100 company and private equity backed businesses. He brings a deep understanding of UK regulated financial services, corporate governance in UK public companies, and effective board challenge and support in building out a sustainable long term business."
Quilter's shares were down 1.6% at 120.10 pence in London on Thursday and down 1.0% in Johannesburg at ZAR27.36.
By Anna Farley; annafarley@alliancenews.com
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