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(Alliance News) - IntegraFin Holdings PLC on Wednesday announced a change of leadership at the same time as reporting a "solid" set of annual results.
IntegraFin operates the Transact service platform for financial advisors and their clients.
Current Chief Executive Ian Taylor is to step down on March 2, though he will remain as an executive director. He has been with IntegraFin since 1999, and CEO since April 2002.
Replacing him is Alex Scott, who has been with the Transact investment platform operator since 2009. IntegraFin also has made Jonathan Gunby an executive director and CEO of Integrated Financial Arrangements Ltd, a role Taylor also currently holds.
Gunby is currently the operations chief at IFAL, and he has been with IntegraFin since 2011.
"After more than 20 years at the group, I have decided that, with the business in an extremely strong position and with superb senior management in place, now is the right time for me to step down from my roles as CEO of the holding and the operating companies," said Taylor.
"I have known Alex for twenty years and Jonathan for thirty and they will make excellent CEOs. I wish them both well."
Turning to trading, IntegraFin reported a 14% rise in funds under direction to GBP37.80 billion for the financial year that ended in September, though gross inflows fell 4% to GBP5.70 billion. Client numbers at the end of September were 8% higher than a year before at 179,500.
IntegraFin's fee income climbed 8.8% to GBP99.2 million, with pretax profit climbing by 21% to GBP56.1 million.
London-headquartered IntegraFin is paying a final dividend of 5.2 pence per share, taking the year's total to 7.8p, up 22% from the 6.4p paid out a year prior.
"Given the political, economic and regulatory instability of the last twelve and more months, we are very pleased with a solid set of results this year," said outgoing CEO Taylor.
IntegraFin said softening inflows that started just over a year ago continued into its recently ended year, but it managed to increase market share in a "rather murky" market background.
Taylor said it is "very difficult" to come up with any outlook given uncertainty over the UK's departure from the EU.
Shares were 2.4% lower on Wednesday morning in London at a price of 445.00p each.
By George Collard; georgecollard@alliancenews.com
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