Pension and investment services provider Wilton Group has hired Richard Valentine as chief executive of it Sipp and Ssas business, Hartley Pensions.
He joins from pension provider Curtis Banks where he served as chief operating officer, and prior to that he was a director at James Hay Partnership.
Valentine will succeed Denis McHugh who will step down as chief executive in the summer after seven years with the company.
Valentine was picked due to his “track record of developing successful business strategies and designing and delivering new pension propositions for both public and privately owned pension businesses”, Wilton Group said.
But Hartley is currently subject to a ‘no new business’ restriction, which was issued by the Financial Conduct Authority on 4 March 2022, as well as an asset retention restriction on 17 February 2022.
A spokesperson for Wilton Group told International Adviser that Hartley is working closely with the FCA to resolve the issues that led to the restrictions, and that Valentine will focus on driving the pension business forward and increase its productivity, with the development of new products paused until the restrictions are lifted.
Tony Flanagan, group chief executive of Wilton, said: “I am delighted to welcome Richard as our new pensions CEO, and I am confident his industry expertise, track record for delivery and commitment to operational excellence will have a positive impact on our business, our partners and most importantly our clients.
“Having secured Richard’s services at the end of 2021, it is great to be working alongside him to consolidate and grow Hartley Pensions’ position as one of the UK’s biggest specialist providers. His arrival and the commitment to create 34 new roles in our Bristol team are key to our long-term plans for the business, which will enable clients to benefit from increased investment in technology and increasingly integrated services across the Wilton proposition.
“I would like to thank Denis McHugh for his commitment and contributions since Hartley Pensions joined forces with Wilton in 2015.”
Valentine added: “I am excited to take on responsibility for leading Hartley Pensions and ensure we become one of, if not the, leading Sipp and Sass providers in the UK. The business has a rich heritage in the pensions market and its specialist expertise is a match for anyone operating in the market.
“My focus will be on driving change and innovation through technology and ensuring that the customer is at the heart of everything we do.”