Kingswood’s chief financial officer and chairman are set to leave the business as the DFM reshuffles its senior management team for the second time in the past year.
Patrick Goulding (pictured right) stepped up to become group CFO late last year as Lloyds veteran David Lawrence was brought on board as UK CEO. Goulding had been part of Kingswood’s senior guard for the past two years, helping to spearhead its latest transformation programme.
Additionally, the wealth manager said non-executive director and chairman Kenneth “Buzz” West would be retiring from the business effective immediately. West, who served on the board for seven years and five as chairman, will stay on as a consultant for six months.
Goulding will be replaced by Jon Millam, who joins from Equiniti, while non-executive director David Hudd, former partner and deputy CEO of law firm Hogan Lovells, has been made interim chairman as Kingswood hunts for a long-term replacement.
This is the latest reconfiguration of Kingswood’s top brass. In addition to hiring Lawrence last December, it rounded out its senior team with hires from Charles Stanley, Close Brothers and St James’s Place in March 2020.
Lawrence said Kingswood has “ambitious plans to accelerate both inorganic and organic growth across the business”.
“In Jon, I am delighted to have found someone that not only shares this ambition, but also has all the credentials to capably lead our finance function through the next stage in our evolution,” he said.
The firm has gone through a series of iterations in recent years, rebranding from European Wealth to KW Wealth in June 2018 and finally Kingswood in September 2019.
A large chunk of the wealth manager’s recent growth has come from acquisitions, with the firm snapping up Regency Investment Management and Sterling Trust in 2020. Earlier this year it bought Lincolnshire-based financial planner Admiral Wealth Management.
Last year it boosted assets to £6.1bn and revenues by 153% to £25.5m.
See also: Kingswood duo: Why our third rebrand in two years is different
