Brewin Dolphin has poached Legal & General Investment Management’s CFO Siobhan Boylan (pictured) to become its finance director, the wealth manager confirmed in a stock exchange announcement on Monday.
Boylan replaces Andrew Westenberger, who left Brewin Dolphin abruptly in May. She is due to join in early 2019.
Boylan has been Lgim’s CFO for the last five years. Prior to that, she was at Aviva for 12 years where she held several senior roles, including CFO of both Aviva North America and Aviva Investors. She began her career at PricewaterhouseCoopers where she worked for nearly a decade.
Lgim looking for successor
A spokesperson for Lgim said the group was already looking for Boylan’s successor and would have plenty of time to find a replacement before she departs at the end of the year.
“She has been a highly valued member of the leadership team and we wish her every success in her future career,” they added.
Boylan’s departure is the latest blow to Lgim, which has found itself garnering negative press over the last couple of weeks.
The asset manager’s reputation was rocked when it was revealed that several whistleblowers had reported the firm to the Financial Conduct Authority for allegedly fostering a “toxic” risk culture. Following that, the group confirmed it has been taking in less money from clients with net inflows into this part of the business dropping by one third.
Commenting on her departure, Boylan called Lgim a “dynamic business with a strong team culture” and said she felt “privileged to have been a part of it”.
“I have very much enjoyed the last five and half years working alongside Mark Zinkula and the team,” she added.
Brewin poised for growth
Brewin Dolphin boss David Nicol said Boylan’s appointment comes at a pivotal time when the company is poised for further growth.
“We are delighted that we have hired someone of Siobhan’s outstanding calibre,” he said. “She has a tremendous track record at several high-profile institutions. She will bring her in-depth knowledge of the financial services industry, as well as management and technical skills, to Brewin Dolphin at a critical stage in our growth trajectory.”
Brewin Dolphin currently manages £36.8bn of discretionary funds for clients.
