Bristol wealth and pensions manager Clifton Asset Management has appointed former Interactive Investor chief commercial officer Alex Kovack as chairman.

He has had a 35 year career in financial services, including being involved with the successful integration of adviser platforms Nucleus and James Hay.

Clifton Asset Management is part of the Clifton Group and parent company to Clifton Wealth Partnership and Morgan Lloyd.

In its 40 years, the business has accrued £2.5bn in AUM and looks after pensions and investments on behalf of more than 12,000 clients.

Neil Greenaway, CEO of Clifton Asset Management, said: “Alex has an outstanding track record for delivering clear growth strategies in financial services while keeping advisers and clients at the absolute heart of the business. 

“These skills are a great fit for where we’re at in our own growth journey, following strategic investment from private equity firm CBPE earlier this year, and the whole Clifton team are looking forward to Alex joining.”

Alex Kovach said: “It is great to be working with a company which has a fantastic proposition, strong client focus, and ambitions for growth. I’m really pleased to help shape Clifton’s future alongside Neil, the board members and the wider company.”

Last month the firm appointed Succession Wealth’s Jo Swain as chief risk officer.

UK private equity firm CBPE Capital LLP made a strategic investment in Clifton Asset Management in October. The size of the investment was not disclosed but the firm said at the time it would partly be used to speed up Clifton's acquisition programme.

Clifton was founded in 1986 and operates as a vertically integrated wealth manager. Services include retirement planning, tax advice, asset management and a wealth platform. It focuses on individuals and small to medium-sized enterprises (SMEs). Clifton serves more than 9,000 clients with the support of 110 employees.