Seven Investment Management (7IM) has appointed Dean Proctor as its new chief executive officer following Tom Sheridan's retirement after 17 years of service.
Proctor takes over from co-founder and CEO Tom Sheridan, who will be available to ensure a smooth CEO transition and will continue to be involved with 7IM in an advisory capacity. Under his leadership, 7IM has grown from a start-up discretionary fund manager in 2002 to a business with £14bn of assets under management providing investment management, service and technology, primarily to financial planners.
He has over 25 years' experience in financial services, most recently as a managing director at Barclays, heading the unsecured lending business in the UK. Prior to this, he was the executive general manager for the Commercial Bank of Qatar, based in Doha, and the CEO of Arbuthnot Latham, based in London.
Tom Sheridan said: "7IM has been a great experience and I am proud to be leaving the business at this time with a great range of clients and the strongest management team it has ever had. Over the years it has been my pleasure and privilege to work with many of the leading UK advisory firms. I have seen many of these firms go from strength to strength and hope that 7IM will be able to continue supporting their growth."
Dean Proctor added: "I am excited to be joining 7IM at this stage of its evolution. The business truly has a track record of innovation from being early into multi-manager and platforms, the launch of its ground breaking AAP fund range in 2008, its award winning app 7IMagine, and most recently the launch of the 7IM Retirement Income Service. One of my key focusses will be building on this legacy of innovation as well as getting to know our advisory partners."
Justin Urquhart Stewart, Co- Founder and Corporate Development Director commented"I warmly welcome Dean to 7IM. He brings significant UK financial services leadership experience with a strong knowledge of wealth management and I look forward to working with him and the management team to build on the great reputation of 7IM."
Ian Owen, Chairman of 7IM, commented:"We are delighted that Dean will be joining us as we look to the next phase of growth for 7IM. We are confident that he will bring a valuable external perspective which, together with our experienced management team, will enable us to meet our clients' expectations and to drive further growth in our business. The whole team would like to thank Tom for his exceptional contribution to 7IM since inception and we are delighted that we will continue to benefit from his insights."