Allfunds Group CEO and founder, Juan Alcaraz, will leave the business he started 25 years ago to take on new challenges, the firm has announced.
He is being replaced by Annabel Spring as CEO in June.
Spring brings 30 years of industry experience to Allfunds. She joins following six years at HSBC where she was most recently CEO of global private banking and wealth.
Prior to this, she spent almost a decade at the Commonwealth Bank of Australia where she was most recently group executive for wealth management.
Alcaraz will move into an advisory role for the next 12 months to ensure a smooth leadership transition.
David Bennett, chair of Allfunds, said: “Juan Alcaraz has led Allfunds with great dedication since its launch through its key milestones, including the IPO in 2021, and has worked ceaselessly to serve the business, our clients and shareholders. We are grateful for his exceptional leadership and entrepreneurial spirit over the years and wish him all the best with his future pursuits.
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“The board is delighted to welcome Annabel Spring as our new CEO. Her extensive experience leading global wealth management businesses, her broad understanding of international banking and her focus on people, technology and client experience makes her the ideal leader for Allfunds’ next phase of growth.”
Alcaraz added: “It has been an immense privilege to be a part of Allfunds’ growth and to have seen its business and its people thrive over the course of more than two decades, and I have agreed with the Board that now is the right time for the business to transition to new leadership.
“It has been an honour to work with everyone at Allfunds, especially the members of the executive committee and the board, and I leave the business in very capable hands, strongly positioned for the future and with significant business momentum into 2025 and beyond.”
Spring said: “Allfunds is an international leader in its field with a strong reputation across the wealth and banking community. The trends supporting the continued growth of global wealth are robust and I believe Allfunds is very well-placed to capture this significant opportunity.”
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