David Ferguson is stepping down as chief executive of investment platform Seccl to become excecutive chairman of the Octopus-owned business.

The move will allow him to focus on developing Seccl’s “future vision, strategy and growth in the UK and overseas”. 

Until a new CEO is found, Mr Ferguson will continue leading the 180-strong team in Edinburgh and Bath.

Seccl, which has £3 billion of assets under management, said there is a ‘growing pipeline of opportunities that span the retail wealth market, both in the UK and internationally’.

Mr Ferguson, who was a co-founder of Nucleus Financial Group, joined Seccl in April 2022, three years after it was acquired by Octopus.

In a social media post, he said: “Very happy with this forthcoming change… Stars have aligned and Seccl’s a serious business now.

“It’s really all there for us to create something genuinely remarkable and personally can’t wait to be able to intensify focus on strategic development in growth.”

Ruth Handcock, outgoing Seccl chair and Octopus Money CEO, said: ‘It’s been incredible to watch the transformation of Seccl over the three years of Dave’s leadership.”

The move follows a number of significant client wins in recent months, including Nordic wealth giant Söderberg & Partners and discretionary fund manager (DFM) Timeline. 

Monzo’s direct-to-consumer (D2C) service is also set to replatform to Seccl from competitor FNZ.