Quilter names new CFO as Tookey steps down

Quilter chief financial officer Tim Tookey is due to step down in March next year after helping form the standalone company from what was Old Mutual Wealth.

He will be replaced by the current chief corporate finance director, Mark Satchel, who has worked for Old Mutual in the UK since 2000. The changes will take effect on 13 March 2019.

In a statement, the company said Tookey decided to step down from his role because he wanted to achieve a better work-life balance through a non-executive career.

Glyn Jones, chairman of Quilter said: “I would like to thank Tim for his very significant contribution to the creation of Quilter. We are sorry to see him go but he leaves with our best wishes for the future and his return to a plural career.

“The board is delighted to appoint Mark Satchel to succeed Tim. Mark is very well known to the board and highly regarded. He has worked closely in partnership with Tim so we are confident of a smooth transition and continuity on key initiatives.”

Chief executive Paul Feeney (pictured) commented: “Tim has made a great impact during his time with Quilter and played an instrumental role in preparing and delivering our listing.

“While I am sorry that we will be losing Tim, I am delighted that we have such an able successor in Mark. I have worked alongside him for many years and I am confident that he will be a very effective and talented CFO.”

Tookey added: “Quilter is a great business, built on strong foundations and with excellent prospects, and I will remain a strong supporter and shareholder in the business.

“I am delighted to be able to hand over to Mark, with whom I have built an excellent working relationship and who has all the skills and experience to undertake the role going forward.”

News of Tookey’s departure follows a major management restructure announced last month which saw the chief executive of Quilter Cheviot stepping down.

ABOUT THE AUTHOR
Pedro Gonçalves
Pedro Gonçalves is Financial Correspondent at International Investment.

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