Fiona Clutterbuck (pictured) has been named non-executive chair of AJ Bell.
She replaces Helena Morrissey, who announced in September that she would stand down from the board after the firm failed to agree on a role for former CEO Andy Bell following governance concerns flagged by the Financial Conduct Authority.
In the role, Clutterbuck will join the platform’s nomination committee as chair, the risk and compliance and remuneration committees, and take on the role of the designated non-executive director for engagement with the workforce.
She will start in the role on 1 May.
Michael Summersgill, AJ Bell chief executive, said: “I am delighted that Fiona will be joining the board. Fiona has a wealth of experience in our sector and will be able to support and challenge the executive team whilst leading the Board as we continue to grow the business.”
Clutterbuck previously chaired Paragon Banking Group and was a non-executive director of Hargreaves Lansdown. She also holds roles on the boards of Sampo and Co-operative Bank.
While she is also currently senior independent director of M&G, Clutterbuck will step down following the firm’s annual general meeting on 24 May.
During her career, she was head of strategy, corporate development and communications at Phoenix Group, having previously held banking roles with ABN Amro Investment Bank, HSBC Investment Bank and Hill Samuel Bank.
Commenting on her appointment, Clutterbuck added: “AJ Bell is a business I’ve long admired for its innovation, customer focus and commitment to delivering great value to customers and advisers. Its dual-channel business model is a real strength in the investment platform market and the business is very well positioned to take advantage of the structural growth drivers in the sector.
“I look forward to working with Michael, the rest of the board and executive team to ensure the business takes advantage of the growth opportunities that lie ahead.”
See also: AJ Bell AUM climbs past £4bn despite ‘subdued’ start to the year
