Andrew McGlone will step down from being chief executive of wealth manager Quilter Cheviot later this year after 31 years with the business.

He will be succeeded in September by HSBC veteran John Goddard, who has been with the bank for 29 years.

Mr McGlone is said to be leaving “in order to pursue other opportunities”, although no details were revealed.

He was appointed chief executive of Quilter Cheviot in January 2019, having previously been head of Quilter Cheviot's London office.

He worked his way up through the London private client department: starting as a trainee, qualifying as an investment manager, then leading one of the London investment teams before becoming head of department in late 2013. He then became managing director, London Investment Management in 2015 before taking over as CEO in 2019.

Mr McGlone said: “Quilter Cheviot has been an integral part of my life for the past 31 years and I feel extremely privileged to have led the business for the past seven of those.

"Having positioned Quilter Cheviot as an integrated wealth management firm within the high-net-worth market, now is an appropriate moment to hand over to my successor to drive the next stage of our growth agenda.”

He will work with Mr Goddard over the next few months to manage a smooth transition of responsibilities.

During his 29-year career at HSBC, Mr Goddard held several senior leadership roles, overseeing key developments within the group.

Steven Levin, Quilter chief executive said: “I would like to thank Andrew for his significant contribution to Quilter over his long and successful career with Quilter Cheviot.

“Under Andrew’s leadership QC has evolved over recent years, adapting to changes in the DFM sector and the business is now in a good position to build on these foundations and deliver further growth in the years ahead.”

Quilter Cheviot is part of Quilter plc. Quilter encompasses the Financial Planning businesses, Quilter Financial Planning, the Quilter investment platform and Quilter Investors, the multi-asset investment solutions business. Quilter Cheviot includes the discretionary fund management business, Quilter Cheviot, together with Quilter Private Client Advisers.