7IM has promoted Russell Lancaster to managing director of platform and intermediary partnerships and Chris Justham to managing director of intermediary solutions, as intermediary managing director Verona Kenny leaves the role after a decade with the company.
Kenny will leave her position at the end of the first financial quarter next year. She has been head of intermediary for 7IM since 2018, and began in 2013 as head of platform. Before 7IM, Kenny was director of marketing at Cofunds. During Kenny’s time with the company, 7IM grew from £978 in assets under management to £11.5bn.
“After spending an amazing decade with the team, I have taken the tough decision to leave 7IM and move to a new challenge in the future,” Kenny said.
“I am leaving 7IM in very capable hands and with new committed owners, who together, I am sure will take the business from its solid place today to huge new heights.”
Dean Proctor, CEO at 7IM, added: “Verona has been the champion of all things 7IM Intermediary; she will be missed by her friends, colleagues, and clients across the business. Everyone at 7IM wishes Verona the best of luck with her next chapter.”
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Lancaster joins the team from Fidelity International, where he has worked for the past 10 years. Since 2017, he has managed as head of intermediary sales for UK Wholesale. Lancaster also built his career at Cofunds, where he worked for over a decade in roles including head of commercial and key accounts and director of fund manager relationships.
“I’ve followed 7IM with great interest over many years, so the opportunity to join the business at this critical stage in its development is hugely exciting for me,” Lancaster said.
“I’m really looking forward to working with Dean, Chris and everyone across the firm as we continue to grow the platform business and build outstanding client partnerships.”
Justham has worked at 7IM since 2012, and currently leads the intermediary team for London and South East England. Before 7IM, Justham spent four years as a wealth manager at Clearwater Wealth Management.
“It’s a privilege to be asked to lead such an amazing group of colleagues and with the recent investment from OTPP, I can’t imagine a brighter outlook for our business,” Justham added.
Proctor said he is looking forward to growing 7IM in the wake of the change of ownership. In September, Caledonia Investments agreed to sell its majority stake to the Ontario Teacher’s Pension Plan Board for £255m.
“I am delighted to have someone of Russell’s experience joining the team and excited about the leadership combination we will have with Chris and Russell driving our business forward,” Proctor said.
“Chris has been a key member of the team at 7IM for 11 years. Having headed the London and the Southeast Intermediary business over the last four years, leading our discretionary and distribution teams comes as a natural and welcomed next step for both Chris and the business.”