AJ Bell has appointed Billy Mackay as managing director of AJ Bell Investcentre, the investment platform for financial advisers.
Mackay had worked for the platform for 13 years as marketing director, overseeing its rapid growth in assets under administration, which currently stand at £44.2bn.
In his new role, Mackay will take on responsibility for the platform's development roadmap, distribution and adviser service proposition, in addition to his existing marketing responsibilities.
This appointment is part of a long-planned succession strategy and is a natural step for Billy and the business."
He will take over from the current managing director of AJ Bell Investcentre, Fergus Lyons on 1 October, as Lyons moves into an advisory role.
In this new capacity, Lyons will oversee and support the development of Touch by AJ Bell and its future growth in the adviser market. This will be a simplified platform proposition for financial advisers delivered via a mobile and tablet app, which is being led by Dave Tanner as managing director.
Andy Bell, chief executive of AJ Bell, said: "Billy has been an integral part of AJ Bell Investcentre's growth over the past 13 years and will be familiar to many adviser firms. This appointment is part of a long-planned succession strategy and is a natural step for Billy and the business.
"I'd like to take this opportunity to thank Fergus for the huge contribution he has made to the growth of AJ Bell over the past 21 years and I'm looking forward to continuing to work with him on the launch and development of Touch by AJ Bell."
Mackay added: "It is a huge honour for me to be taking on the managing director role of AJ Bell Investcentre. I've been very fortunate to work closely with Fergus and Andy over the last 13 years.