Rathbones Group Plc (LON:RAT) has announced that, after four and a half years as Group Chief Financial Officer and Executive Director, Jennifer Mathias will step down from the board on 31 December 2023 and transition to the new position of Group Chief of Staff to support the integration of Investec Wealth & Investment Limited. For the remainder of her term as Group Chief Financial Officer and Executive Director, Jennifer will continue to receive remuneration and benefits in line with the terms of her service agreement and the Directors’ Remuneration Policy as published on rathbones.com.
The Board has appointed Iain Hooley as Jennifer’s successor, subject to regulatory approval. Iain was Finance Director of IW&I UK for more than a decade and was appointed CEO of IW&I UK in February of this year and these responsibilities will continue during the integration period. Iain has been a key individual in IW&I UK’s success and has played an integral role in the significant growth of the business.
During the intervening period, Jennifer and Iain will continue to work closely to ensure there is a smooth transition. Jennifer will remain a member of Rathbones’ Group Executive Committee in her new role.
This change is being made to support the integration with Investec Wealth & Investment UK. The Rathbones Group Plc Board today has two executive directors, and we wish this governance model to continue. It is important to the Board and both businesses that our ongoing board representation reflects the shape of the business post-combination, and equally important that we set a clear leadership model at executive level in order to be well positioned to achieve the objectives we have set out.
Clive Bannister, Chair of Rathbones, commented:
“During Jennifer’s tenure, Rathbones has firmly established itself as the leading UK wealth manager and, on behalf of the board, I would like to thank her for her unfailing commitment and the dedication she has provided to Rathbones in this role over the past four years.
“We are pleased to announce that Iain will succeed Jennifer as Group Chief Financial Officer, subject to regulatory approval. Iain has built up considerable industry and finance experience and has a deep knowledge of IW&I UK, its values and culture. I wish him every success as he takes on his new responsibilities.”
Jennifer Mathias commented:
“It has been my privilege to serve on the Board, to lead the finance team and work alongside the many talented professionals who compose Rathbones. I am immensely grateful for their considerable contribution to our success over the past four and a half years and am very proud of what we have achieved together. I look forward to working closely with Iain through the transition to the year end, and beyond in my new role as Group Chief of Staff where I will be working, with the executive team, across all parts of the combined business to help achieve our strategic objectives.”
Iain Hooley commented:
“The opportunity to join the leadership team of such a prominent and well-respected business is very exciting. Our clients and stakeholders place considerable trust in our ability to deliver to them the highest-quality service and reliable investment outcomes. I very much look forward to continuing to work with the board, our executive team and my colleagues to build on our position as the UK’s leading discretionary wealth manager.”
