New board members

Ferguson position unclear as James Hay seals Nucleus deal

David Ferguson

David Ferguson: position unclear (pic: Terry Murden)

James Hay, new owner of Edinburgh wrap platform Nucleus, will unveil its leadership structure in the coming months after the £145 million acquisition received regulatory approval and today goes wholly unconditional.

Three James Hay directors will lead the group but there was no indication that Nucleus founder David Ferguson will join the board.

The group said the merger will create a financial planning and retirement-focused platform with greater scale and able to address the changing needs of advisers and their clients.

In a statement to the stock market, it said it is “an exciting time in the platform sector” as it continues to develop a broader range of digital capability.

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