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Verso appoints former Brown Shipley chief as new CEO



Acquisitive digital wealth supervisor Verso Wealth Administration, which snapped up a number of Monetary Planning corporations final 12 months, has appointed former Brown Shipley chief govt Alan Mathewson as group chief govt.

The trade veteran and former banker will even be a part of the Verso Group Board.

Mr Mathewson has held a number of senior positions in monetary providers and wealth administration in a 30-year profession, most lately as a senior adviser at Bridgepoint. 

He spent 4 years as chief govt of Brown Shipley, the UK subsidiary of Quintet Non-public Financial institution overseeing the agency’s AUM development from £6.5bn to £10bn.

Earlier than that, he spent greater than 20 years in senior management roles at Santander, most lately as managing director of wealth administration and personal banking, the place he led Santander’s transfer into the UK wealth administration market, together with the launch of its digital funding channel.

The corporate mentioned the transfer follows the deliberate restructuring of Verso’s govt workforce to assist the subsequent section of its strategic development plan.

The corporate spent a lot of 2022 buying Monetary Planning corporations across the nation, together with West Midlands Heritage Unbiased Monetary Advisers and Sussex-based IEP Monetary in December.

It accomplished a complete of 5 acquisitions final 12 months, together with 4 Monetary Planning and wealth administration corporations.

  

It acquired Pavis Monetary Administration in January, CDC Wealth Administration in March and Campbell Thomson Insurance coverage Companies in August, in addition to its two December acquisitions. 

Simon Redgrove, managing director at Verso, mentioned the agency expects to make extra acquisitions this 12 months.

Mr Mathewson mentioned: “I’m keen about modernising wealth administration – and am delighted to steer Verso Wealth Administration on the subsequent stage of its improvement. I’ve led main strategic refreshes at each Brown Shipley and Santander which had been transformative for the respective companies. 

“I’ll draw on this expertise to make sure the Verso Wealth proposition stays compelling and that we proceed to draw new corporations to the portfolio and develop each our AUM and profitability.” 

Andrew Fay and Simon Redgrove, Verso’s co-founders, will proceed to be actively concerned, main the agency’s distribution and acquisition technique as members of the Verso Group Board.

They will even have oversight of different strategic initiatives, working in partnership with the manager workforce to make sure their firm meets its development targets. 

Mt Fay, mentioned: “Our agency is rising quickly – within the final 18 months, we now have established the Verso proposition and platform, partnered with 5 Monetary Planning corporations, reaching geographic protection throughout the UK and an AUM of £1.8bn.

“As we’re very conscious of what’s deliberate for the subsequent section of our development, we really feel the time is true to develop and strengthen our govt workforce.”




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