Platform AJ Bell has promoted Ryan Hughes to the role of investment director.
Hughes started at AJ Bell in 2016, before becoming the head of investment partnerships last year. He has been in the industry since 1999, beginning his career with Kohn Cougar before holding roles at Chartwell Asset Management, Skandia Investment Group (now Quilter), and Apollo Multi Asset Management.
Kevin Doran, CIO and managing director at AJ Bell, said: “Ryan has played a vital role in developing AJ Bell’s leading range of investment solutions for both advised and D2C customers.
“As investments director, we’re delighted he’ll be able to continue that fantastic work and spearhead the growth of our investment range, which attracted a further £1.9bn in the last year despite a challenging market in which many managers are suffering outflows.”
In his new position, Hughes will oversee multi-asset funds and the company’s managed portfolio service. Hughes also pitched in this year by covering as head of investment research when Alena Kosava left the position in June.
As of 30 September, AJ Bell holds £4.7bn assets under management, rising 68% in the past year, with net inflows of £1.65bn. The company also brought on 50,880 new customers, totalling a 12% increase for the fiscal year.
“The high-quality range of investment solutions we’ve developed at AJ Bell has gained fantastic traction across both our advised and D2C platforms,” Hughes said.
“We’ve been able to deliver strong returns for customers across our funds and MPS, while reducing charges for customers and delivering great service. I’m really excited to be leading the team as we continue to grow and I look forward to continuing that in the near future with the appointment of a new head of investment research and head of investment product adding further strength.”