David Kiddie has taken up his new role as chairman of wealth manager and SIPP provider Mattioli Woods today after regulatory delays from the FCA in providing approval.

The FCA has suffered a number of delays in providing regulatory approval to senior appointments in recent months due to a backlog in approvals.

Mr Kiddie’s appointment was announced last October and he was due to take up his role in January but this had to be pushed back while FCA approval was awaited.

Mattioli said today it was pleased to confirm the appointment of Mr Kiddie as non-executive chairman following receipt of regulatory approval. He succeeds Joanne Lake who has stepped down from the board with immediate effect.

Ms Lake announced she would step down as chairman last September but remained in the role during the extended handover period.

Mr Kiddie joined the board as a non-executive director in January. He has 35 years' experience in asset management and investment oversight and has held senior roles including CEO at BNP Paribas Investment Partners UK and chief investment officer at AMP Capital Investors, ABN AMRO Asset Management and Rothschild Asset Management.

He is currently a non-executive director at Investment Fund Services and Marlborough Fund Managers.

Ms Lake has served as chairman of the firm for five years, having previously spent four years on the board.

Mattioli has continued to grow strongly in recent years through acquisition and organic growth.

Client assets at Mattioli Woods rose 42% to £15.1bn over the six months ending 30 November 2021. 

Gross discretionary assets under management rose 55% over the half to £5.1bn.

During the six months ending 30 November Mattioli Woods completed its two largest acquisitions to date, Maven Capital Partners and Ludlow Wealth Management.

According to a recent trading update, both acquisitions are now integrated and performing ahead of budget.