Regan leaves Ascentric in M&G WM shake-up
David Montgomery and Rob Regan
M&G Wealth Management has announced that Rob Regan, CEO of Ascentric, will leave the business at the end of the year.
Mr Regan has led Ascentric through considerable change over the last three years, including its acquisition by M&G from Royal London that completed in September.
The wealth platform is under the leadership of David Montgomery, managing director of M&G Wealth Management, supported by Richard Denning, who becomes interim CEO of Ascentric after joining the business earlier this year. A permanent CEO will be appointed in due course.
Mr Denning has spent 21 years building, running and transforming wealth platforms. Previously he played a significant part in the transformation of Aegon to have the largest wealth platform in the UK market.
M&G Wealth Management was formed last month and brought together Ascentric, Prudential Financial Planning, The Advice Partnership (TAP) and the M&G Direct funds unit.
Mr Montgomery said: “I wish Rob well for the future. He leaves at the end of 2020 with our very best wishes.
“M&G Wealth has unique and exciting developments in motion and Ascentric is at the core of many of these. It is to Rob’s great credit that we will be able to deliver these to advisers using the Ascentric platform simply and effectively in the future.
“I look forward to working closely with Richard and the very strong team we have in place in the business. There is a lot of opportunity and their dedication, skills and experience, allied to our scale and strong commitment to the wealth market, will be invaluable in our future developments”.
Mr Regan said: “I am very proud of what we have collectively achieved over the last few years positioning Ascentric with a very bright future. M&G Wealth has a very clear strategy for the business that will take it through the next phase of growth”.
M&G Wealth Management has assets under management and administration totalling £28 billion.