IFG Group, owner of SIPP and platform provider James Hay, has announced a new leadership team.

Over the last three years, the composition of the group has shifted following its exit from its non-UK operations, to focus on UK wealth management and intermediary platform markets. 

The board says the change in focus requires a new leadership team to take the business forward.

John Cotter has stepped down as group chief executive, to be replaced by Kathryn Purves, formerly a non-executive director and chair of the Group Risk Committee.

Ms Purves joined the board in May 2016 and was previously chief risk officer at Partnership Assurance.

She has more than 20 years’ of senior leadership experience in financial services companies including Partnership Assurance, Phoenix Equity Partners, Deutsche Bank and UBS.

Ms Purves is currently a non-executive director of Intermediate Capital Group plc.

IFG also announced that John Gallagher will be replaced as group chairman following the AGM, in May, by Mark Dearsley, who is currently acting as the group's interim chief financial officer.

In the meantime, Mr Dearsley will relinquish his interim executive role to take on the role of deputy group chairman. 

Mr Dearsley is a Chartered Accountant with board level experience in the financial services sector, including directorial roles at Partnership Assurance and senior positions at Savills and Aviva.

In another change, Gavin Howard has been appointed interim group chief financial officer with immediate effect. 

Mr Howard is an experienced financial services executive and qualified actuary with more than 20 years’ of experience, including as CFO and finance director, in financial services companies including Octopus Group, Just Group plc, Partnership Assurance, Barclays and Friends Provident.

John Gallagher, group chairman, said: “I would like to thank John Cotter for his important contribution to the group in a number of roles over the past four years.

“The group has been repositioned significantly over this period resulting in a more streamlined structure with two very strong and well positioned businesses.  

“Looking ahead, we are extremely fortunate to have already amongst our ranks a successor of Kathryn's calibre.  

“Given the strong prospects for the group, I remain fully committed to IFG as a shareholder.”

New group chief executive Kathryn Purves said: “I now look forward to working closely with Mark and Gavin and the leadership teams of Saunderson House and James Hay to maximise each business's potential and create the conditions in which they, and the group overall, are best placed to flourish and deliver further value to shareholders.”

IFG Group, owner of SIPP and platform provider James Hay, has announced a new leadership team.

Over the last three years, the composition of the group has shifted following its exit from its non-UK operations, to focus on UK wealth management and intermediary platform markets. 

The board says the change in focus requires a new leadership team to take the business forward.

John Cotter has stepped down as group chief executive, to be replaced by Kathryn Purves, formerly a non-executive director and chair of the Group Risk Committee.

Ms Purves joined the board in May 2016 and was previously chief risk officer at Partnership Assurance.

She has more than 20 years’ of senior leadership experience in financial services companies including Partnership Assurance, Phoenix Equity Partners, Deutsche Bank and UBS.

Ms Purves is currently a non-executive director of Intermediate Capital Group plc.

IFG also announced that John Gallagher will be replaced as group chairman following the AGM, in May, by Mark Dearsley, who is currently acting as the group's interim chief financial officer.

In the meantime, Mr Dearsley will relinquish his interim executive role to take on the role of deputy group chairman. 

Mr Dearsley is a Chartered Accountant with board level experience in the financial services sector, including directorial roles at Partnership Assurance and senior positions at Savills and Aviva.

In another change, Gavin Howard has been appointed interim group chief financial officer with immediate effect. 

Mr Howard is an experienced financial services executive and qualified actuary with more than 20 years’ of experience, including as CFO and finance director, in financial services companies including Octopus Group, Just Group plc, Partnership Assurance, Barclays and Friends Provident.

John Gallagher, group chairman, said: “I would like to thank John Cotter for his important contribution to the group in a number of roles over the past four years.

“The group has been repositioned significantly over this period resulting in a more streamlined structure with two very strong and well positioned businesses.  

“Looking ahead, we are extremely fortunate to have already amongst our ranks a successor of Kathryn's calibre.  

“Given the strong prospects for the group, I remain fully committed to IFG as a shareholder.”

New group chief executive Kathryn Purves said: “I now look forward to working closely with Mark and Gavin and the leadership teams of Saunderson House and James Hay to maximise each business's potential and create the conditions in which they, and the group overall, are best placed to flourish and deliver further value to shareholders.”