British wealth management and professional services group Tilney Smith & Williamson has appointed Mayank Prakash as its new chief operations officer (COO), effective from 1st April.
Prakash will replace Donald Reid, who will retire at the end of May.
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The company said Reid, who has nearly 11 years of association with the business, will assume a part-time advisory role following his retirement.
Tilney Smith & Williamson chief executive Chris Woodhouse said: “Donald has made a huge contribution to the business over the last eleven years, which has been a period of significant growth and change. We wish Donald well for his retirement and are delighted that we will continue to have access to his counsel in his new advisory role.”
Prakash joined Tilney in September last year following completion of the merger of Tilney and Smith & Williamson. As chief technology officer, he has been working with Reid on the handover.
Before joining Tilney, Prakash handled leadership positions at FTSE 100 utilities group Centrica and UK Department of Work & Pensions (DWP).
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By GlobalDataHe is currently the deputy president of the BCS – The Chartered Institute for IT.
Woodhouse commented: “Mayank has an impressive track record leading teams and implementing large-scale transformation programmes across the private and public sector.
“He has already made a significant impact since joining us last September. As the new Chief Operations Officer, Mayank will continue to drive our digital investment and innovation agenda forward alongside leading our operations teams to deliver excellent client experience and support the scalability of our fast-growing business.”
Earlier this month, Tilney announced plans to acquire financial and investment advisory firm HFS Milbourne, which manages around £450m of assets under influence.
