Stephen's appointment reflects the Board's commitment to accelerating the execution of FNZ's strategic transformation programme, improving client delivery and supporting the Group's progress towards long-term profitable growth.
Blythe Masters is transitioning out of the Group Chief Executive Officer role and will continue to support FNZ in an advisory capacity for six months to help ensure an orderly leadership transition. The Board and Blythe believe this leadership transition best supports the next phase of that journey.
The Board has begun a process to identify a permanent Group Chief Executive Officer. During the transition period, Stephen Welch will serve as Executive Group Chair on an interim basis alongside his role as Group Chair.
FNZ's strategy, transformation programme and client commitments remain unchanged. The Group will continue to focus on its core wealth management platform, improving the quality and consistency of client delivery, and transforming its operating model to drive efficiency and sustainable, profitable growth.
The Board would like to thank Blythe for her significant contribution to FNZ over the past two years. During her tenure, FNZ has made substantial progress executing its transformation programme, strengthening its financial position, advancing key regulatory priorities, simplifying the Group through the divestment of non-core assets and continuing to grow assets on the platform, which now exceed $2.5 trillion.
Stephen Welch, Executive Group Chair, said:
FNZ has a strong business, a clear strategy, market-leading technology and an exceptional client portfolio. I look forward to working closely with colleagues across the Group as we continue to execute our transformation programme, improve delivery for clients and build on the significant progress already made.
On behalf of the Board, I would also like to thank Blythe for her leadership and significant contribution to FNZ. FNZ enters this next chapter as a stronger and more focused organisation, and I am confident in the opportunities ahead for the business, our clients, our shareholders and our people.