British wealth manager Quilter has named its current corporate finance director Mark Satchel as it next CFO. The new appointment is subject to regulatory approvals.

Satchel will assume the new responsibility on 13 March 2019, when the present CFO Tim Tookey will step down.

Satchel has been associated with Old Mutual wealth executive committee (Old Mutual Wealth re-branded to Quilter Private Client Advisers earlier this year).for several years. In the last two years, he worked with Tookey on the preparation for the listing as well as carrying out optimisation initiatives.

Last month Quilter a decline in cash flows. Excluding Quilter Life Assurance, net client cash flows dropped 42% to £1.1bn from £1.9bn in the previous year. Quilter blamed geopolitical uncertainty for weaker investor sentiment

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By GlobalData