Quilter Cheviot chief executive Martin Baines is to step down as part of a series of people moves aimed at preparing Quilter “for the next phase of its corporate journey”.
Baines’ successor has been named as Andy McGlone, who is currently managing direct of Quilter Cheviot. His appointment is subject to regulatory approval.
McGlone, who also joins the executive committee, has spent his entire career at Quilter Cheviot, having joined in 1994.
Baines will stay on throughout 2019 as a senior adviser to the investment management firm’s board.
His role will encompass senior client and business development activities. Baines will report to chief executive Paul Feeney and Ian Buckley, the newly appointed independent non-executive director and chairman of the Quilter Cheviot board.
Operational oversight
Having played a key role in the creation of Quilter, chief operating officer Steve Braudo is to leave the organisation on 5 October to pursue other opportunities.
His replacement, subject to regulatory approval, has been named as Karin Cook, who will join Quilter on 2 January 2019.
She spent five years at Lloyds Banking Group, where she undertook roles including chief operating officer of commercial banking and, more recently, group director of operations on the executive committee.
In addition, Cook spent nine years at HSBC where she was chief operating officer of global private banking from 2010 to 2013.
Gender diversity at Quilter
Speaking to Portfolio Adviser’s sister publication, International Adviser on 25 June, the day Quilter listed on the London and Johannesburg Stock Exchanges, Feeney acknowledged that the business was “behind the eight-ball” when it comes to gender diversity.
“Expect to see change,” the Quilter boss told IA. “One of my goals is to create an environment where our people can thrive, not the environment where 50-year-old bald blokes can thrive. We’ve already got that.”
Part of that change can be seen in the addition of two women to the executive committee in new roles.
Michelle Andrews joins the executive committee as chief marketing officer. A UK and International marketing expert, Andrews joined the organisation in 1997.
Jane Goodland has been promoted to the role of corporate affairs director and a member of the executive committee. Goodland will be responsible for overseeing external communications and PR, stakeholder engagement, government relations, public policy, industry lobbying and Quilter’s responsible business agenda.
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