Wealth manager and Financial Planning firm Saltus has appointed Alistair Stuart as its new chief operating officer (COO).

It said the hire would help accelerate its growth plans, with a focus on driving the development of its partnership programme.

The programme was launched in September to provide financial and operational support to Financial Planning businesses looking to grow or maximise profitability and to those considering exit.

Mr Stuart has previously held senior roles at the European Depository Bank, Investec, RBS and Westpac, and most recently was director of operations transformation at Nationwide Building Society.

His focus has been on building and launching digital financial services in the UK and Europe, paying particular attention to building personalised relationship models supported by technology.

Jon Macintosh, chief executive of Saltus, said Mr Stuart had “a detailed knowledge and understanding of both the industry as a whole and what we’re looking to achieve with the Saltus Partnership Programme specifically.”

Mr Stuart said: “There are significant challenges facing wealth management firms today, with new technology, AI, regulation, and global market uncertainties just some of the major issues facing owner-managers.

“The businesses able to navigate this landscape without losing the human touch, balanced with a drive for innovation and technological advancement, will be the ones that thrive.”

Saltus started as an investment management firm in 2004 and launched Saltus Financial Planning in 2015. The Saltus group now employs more than 200 people.

Saltus made three acquisitions in 2022 including London-based Chartered Financial Planning firm Higgins Fairbairn Advisory LLP, Fish Financial and NSL Wealth. The firm also acquired Lorica in 2020 and Consilia in March 2021.

Private equity firm Preservation Capital Partners (PCP) took a majority stake in Saltus in 2022.

PCP specialises in acquiring financial services business and has several investments within the Financial Planning, wealth management and investment sectors.

Its holdings include a majority stake in the Parmenion platform which it acquired from Standard Life Aberdeen in March 2021.