Quilter chief executive Paul Feeney will leave the wealth manager and Financial Planner at the end of October after 10 years in charge.

He will be replaced by Steven Levin, currently boss of Quilter’s Affluent segment.

Mr Feeney said: “After ten great years it is time to pass on the baton.

"I am immensely proud of what we have achieved, transforming the business from a predominantly closed life book business into the modern, publicly-listed wealth manager it is today, with around £1 billion returned to shareholders since Listing.”

The experienced Mr Feeney had previously held leadership roles at NatWest Private Bank, NatWest Investments USA, Gartmore Investment Management and BNY Mellon Asset Management International.

His decade at Quilter will be remembered for leading the major transformation of Quilter into one of the UK's biggest wealth managers and Financial Planners.

He said he will remain available after his departure to support an orderly transition.

His replacement Steven Levin has been with the Quilter Group and its predecessor companies since June 1998. His promotion has been part of Quilter's succession planning for some time, the group said.

He joined the Old Mutual Group in Cape Town, South Africa, moving to London in 2010. He has led Quilter’s Affluent segment since its formation and successfully managed Quilter’s Platform Transformation Programme.

Mr Levin said: “I am delighted to be asked by the board to be the next Quilter chief executive officer and am excited by the opportunities for our business ahead.

“I am fortunate to be inheriting a strategically well-positioned business with a strong balance sheet.”

His appointment to take over from 1 November is subject to regulatory approval.

Ruth Markland, Quilter chair said: “I would like to express our deep gratitude to Paul for leading the business for the last decade and for transforming Quilter into the modern wealth manager it is today.”

Referring to new chief executive Mr Levin she said: “I am confident that Steven will take our business forward and deliver on its potential, supported by the strong executive committee that Paul has built.”

In July Quilter Financial Planning chair Chris Samuel was appointed a non-executive director of the main company’s board.

Last week it recruited Daisy Dupree-Loxton from the Walt Disney Company to be its new head of wellbeing.

Its latest published results showed that pre-tax profit in the first half of the year climbed by 9% to £61m (H1 2021: £56m) despite a sharp fall in Assets Under Management (AUM) as markets had tumbled around the world leading to “challenging market conditions.”