Tilney Bestinvest has appointed TSB’s Will Samuel as its new chairman.
Samuel, pictured above, will balance his role as chair of TSB along with his new role. He joins the UK investment and financial planning group, in his new role, subject to FCA approval. He replaces outgoing chairman Mike Covell, who leaves after serving six years in the role.
Covell will continue to work in financial services with a number of non-executive directorships including Le Masurier, where he is also non-executive chairman, a Tilney Bestinvest spokesperson said.
Samuel joins Tilney Bestinvest after more than 35 years in the City. As chairman of TSB Banking Group, he took the company through an IPO after the de-merger from Lloyds Bank plc.
Earlier in his career, after qualifying as a chartered accountant, he started in the investments world at Schroders in 1977, initially in the company’s investment management division. In 1986 he was appointed managing director of Schroders Investment Banking business and following its sale to Citigroup he was co-chief executive of Schroder Salomon Smith Barney.
In 2004 he joined Lazard & Co. as vice chairman and from 2011 he served as senior adviser. In 2012 he was appointed as senior adviser to the Prudential Regulation Authority, a position he held prior his appointment as chairman of TSB.
Samuel has also held non-executive experience including the chairmanships of Howdens Joinery Group plc, Ecclesiastical Insurance Group and HP Bulmer Holdings plc, deputy chairman of Inchcape plc and as an NED of Edinburgh Investment Trust plc.
Peter Hall, chief executive, at Tilney Bestinvest thanked outgoing chairman Mike Covell for his service during “a period of major growth and development for the group”, while at the same time welcoming Samuel to Tilney Bestinvest.