AJ Bell has announced its intention to appoint Dame Helena Morrissey as its new chair, replacing outgoing chair Les Platts.

Subject to regulatory and shareholder approval, Morrissey is expected to join the board as chair designate on 1 July 2021 ahead of her official appointment at the firm’s next Annual General Meeting in January 2022.

Morrissey will also become a non-executive director, after recently stepping down as non-executive director at St. James’s Place.

She is currently Foreign, Commonwealth and Development Office lead non-executive director, reporting to the Foreign Secretary.

Her previous roles include Legal & General Investment Management head of personal investing and Newton Investment Management chief executive.

Morrissey has been a leader in promoting diversity on company boards and founded the 30% Club in 2010.

“I’ve long admired AJ Bell and its commitment to helping people to invest,” Morrissey commented.

“Its low-cost, easy to use investment platform is exactly what people need to help them start their investing journey and build financial security for themselves and their families.

“The business is growing quickly and I’m looking forward to joining the team to help build on that success and shape the future direction of the company.”

AJ Bell also announced the appointment of Evelyn Bourke as non-executive director, who will also join the board on 1 July 2021.

Bourke is currently Marks & Spencer non-executive director and Bank of Ireland Audit Committee chair.

She was previously Bupa chief executive until December 2020 and held senior roles at several financial services businesses, including Friends Provident, Standard Life and Chase de Vere.

Commenting on her appointment, Bourke said: “AJ Bell is a fantastic business operating in an exciting part of the market. 

“More than ever people need to take control of their long-term savings and investments, whether that be via a financial adviser or doing it themselves. 

“Whichever route they prefer, AJ Bell offers the products and investment solutions they need to build and manage their wealth and I’m looking forward to contributing to the next phase of its development.”

AJ Bell senior independent director, Laura Carstensen, added: “The appointments of Helena Morrissey and Evelyn Bourke further strengthen the AJ Bell board and will help develop the company’s ambitious growth strategy.

They each have a broad depth of experience in a range of financial services business and we are confident this will bring new ideas to the business that will benefit all our stakeholders. The board and I would like to thank Les for the vital role he has played in the growth and success of AJ Bell as a director since 2008 and as chair since 2014.”

Platts concluded: “It has been a great honour to chair the board at AJ Bell and to help steer the company through its successful IPO in 2018.

“The business is full of great people who are totally focused on serving its customers and I’ll leave knowing it has a very bright future.  

“I look forward to welcoming Helena and Evelyn to the board in July and handing over the chair to Helena early next year.”

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