Financial advice firm Kingswood has appointed Peter Coleman as interim chief executive following the resignation of former head David Lawrence.
According to the firm, the process to appoint a permanent chief executive will “commence shortly”.
During Lawrence’s tenure, the company bought more than 20 firms, growing the team to around 400 people and achieving double digit levels of annual growth.
Coleman has been appointed to the role with immediate effect and has previously held roles at Succession Wealth, Wealth Wizards as well as chief executive of Positive Solutions.
In 2019, private equity firm Pollen Street Capital snapped up Kingswood Holdings providing the wealth manager with £80mn to fund its pipeline of acquisitions.
Lawrence said: “The last four years have been a transformative period for Kingswood. It is now a highly professional business with equally strong investment management credentials, and with the support of our primary investors, Pollen Street Capital has made and integrated more than 20 acquisitions with assets under management now approaching £10bn.
“We would not have achieved any of this without the unstinting commitment of all of our colleagues, our investors and our board, whose support during my tenure I am deeply thankful for.”
Earlier this year, Kingswood hired Vinoy Nursiah as chief financial officer and Bryan Parkinson as head of wealth planning in a bid to become a leading provider of wealth management services in the UK and internationally.
alina.khan@ft.com
