British wealth manager Bellpenny, which is owned by Oaktree Capital Management, has named Nigel Stockton as its new CEO.
Stockton will replace Kevin Ronaldson who will step down in September 2015. Ronaldson will now shift to the role of founding director at the firm.
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Stockton, who has been a director of Bellpenny since its inception in 2012, is currently financial services director at Countrywide.
He also had stints as mortgages sales director at Lloyds Banking Group, and managing director at Birmingham Midshires, as well as held various commercial directorships with the Financial Times.
Bellpenny chairman Grenville Turner said: "Oaktree would like to thank Kevin for his efforts in turning the Bellpenny concept into a reality over the past three years. Kevin staying on as founder director, shareholder and investor is the best-possible outcome for us in terms of continuity.
"In Nigel we’re especially fortunate to have a tailor-made replacement for Kevin. He and I have worked closely together for much of the past 20 years and I can’t think of anyone better equipped to drive Bellpenny to even greater heights."
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