Investment platform AJ Bell has added Ryan Hughes and Stephen Westgate to its executive committee.

Ryan Hughes has been appointed as managing director of AJ Bell Investments, having previously been interim managing director since late 2023. He joined the platform in 2016 and has played a leading role in the development and growth of its investment proposition.

Stephen Westgate has joined AJ Bell as group corporate development director. He was previously managing director and head of financial institutions at Deutsche Numis.

In his newly created role, Mr Westgate will drive new strategic initiatives with the focus on continuing the company’s organic growth trajectory.

Both will report to CEO Michael Summersgill.

The appointments are subject to regulatory approval.

AJ Bell said the appointments were made to boost the platform’s rapid growth.

Mr Summersgill said: “Since listing in 2018, AJ Bell has grown rapidly to become a business serving more than half a million platform customers, with assets under administration of £83.7bn. The remarkable growth of the business illustrates the success of our model, serving both the advised and D2C markets.

“Ryan and Stephen’s appointments add further depth to our leadership team, bringing new perspectives and thinking to help develop our strategy and identify further organic growth opportunities for the business.”

Total advised customers rose 7% year-on-year to 168,000 for investment platform AJ Bell, according to a trading update from the firm issued in July.

Total customer numbers were 528,000 at the close of the quarter ended 30 June, a year-on-year rise of 13% and a 5% rise of the three months.

The platform held £83.7bn in assets under administration as at 30 June, up 20% over the last year and 4% in the quarter.

For advised clients, assets under administration rose slightly over the quarter to £54.9bn. The adviser platform saw inflows of £1.7bn, partially offset by outflows of £1.2bn, leaving net inflows of £0.5bn for the quarter. This was in line with the same quarter of last year.

The platform’s investment management arm had a particularly strong quarter with assets under management rising 47% year-on-year and 9% in the quarter to £6.3bn. Of this, £3.4bn was held on AJ Bell’s adviser platform.