PIMFA
8 February 2020
PIMFA delighted to welcome Investec’s Ciaran Whelan and Openwork’s Mike Morrow to Board
PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, is delighted to announce the addition of Ciaran Whelan and Mike Morrow to its Board with effect from 1 February 2021.
Both new directors bring substantial experience of the wealth management and advice sectors, which will help inform the direction and strategy undertaken by PIMFA as it continues its efforts to provide Professional Advice for All that want it and An Industry Fit for the Future challenges and opportunities to come.
Ciaran Whelan is managing director of Investec plc and CEO of Investec Wealth and Investment (UK). He has held various senior positions globally within the Investec group over the past 30 years. Ciaran sits on the Investec Board as an Executive Director. Before being appointed to his current roles in April 2020, Ciaran was Group Chief Operating Officer, and prior to that he was Group Director of Risk and Global Head of Private Banking. Between 2013 and 2015 Ciaran was CEO of Investec Bank Australia Ltd and prior to that, he was CEO of Investec Employee Benefits Limited.
Mike Morrow is Chief Commercial Officer at Openwork. A highly experienced leader, he has held a variety of senior level wealth management roles at AXA, HSBC and Ascentric (formerly part of the Royal London Group) before joining Openwork as Wealth Director in June 2015. In his current role, he provides a focal point for Openwork’s proposition development and contractual relationships with adviser firms and third parties as well as leading on the development of the Wealth Platform. Mike is a member of the Openwork Investment Committee, the Executive, and a number of Openwork Boards (Openwork Holdings Limited, 2Plan and Openwork Wealth Services Ltd)
Lord Deben, Chairman of PIMFA, commented: “I’m delighted to welcome both Ciaran and Mike to PIMFA’s Board of Directors and look forward to working with them.
“I have no doubt that their considerable experience and insights will help take PIMFA forward in a way that benefits our members and the profession overall.
“There were already many challenges and opportunities facing the wealth management and advice industry before the COVID-19 pandemic took hold. Many of those challenges and opportunities remain, and some have been amplified by the pandemic. Ciaran and Mike’s experience will be invaluable in helping navigate a path that creates an industry that is Fit for the Future and benefits the financial and mental wellbeing of an ever-widening pool of consumers through the provision of professional advice for all.”
Ciaran Whelan, Managing Director of Investec plc and CEO of Investec Wealth and Investment (UK), commented: “I am delighted to be joining the PIMFA board at such a pivotal time for the advice profession. The wealth management and financial advice are vital sectors of the UK economy. This is a period of great change, not only in our industry but in society as a whole. Advances that many had thought would be some years away are taking place far more rapidly as a result of the COVID-19 pandemic, particularly when it comes to digitization within the industry.
“The transfer of wealth through the generations, the growth of ESG investing, how the industry is regulated and how we provide advice to a wider group of investors, are among just some of the issues that we need to tackle. I look forward to working, alongside my colleagues on the PIMFA board, towards finding some of the solutions to these, and many other challenges.”
Mike Morrow, Wealth and Platform Director at Openwork, commented: “I feel honoured and privileged to be joining the Board of PIMFA at this time. The Wealth Management industry generally, and the advice profession specifically, needs to exert greater influence over how the market should develop at this critical juncture, harnessing the role of traditional advice and digital opportunity. PIMFA is the trade body best suited to creating that positive positioning through wide member engagement and consensus.”
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Notes for Editors
About PIMFA – the Personal Investment Management & Financial Advice Association
- PIMFA is the trade association for firms that provide investment management and financial advice to everyone from individuals and families to charities, pension funds, trusts and companies.
- The sector currently looks after after £1.65 trillion in private savings and investments and employs over 62,000 people.
- PIMFA represents both full and associate member firms. Full members provide a range of financial solutions including financial advice, portfolio management, as well as investment and execution services. They assist everyone from individuals and families, to charities and pension funds, all the way to trusts and companies. Associate members provide professional services to the PIMFA community.
- PIMFA leads the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the wealth management, investment advice and financial planning arena. Our mission is to create an optimal operating environment so that its member firms can focus on delivering the best service to clients, providing responsible stewardship for their long-term savings and investments.
- PIMFA was created in 2017 as the outcome of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) with a history as a trade association since 1991 – read more.
- Further information can be found at www.pimfa.co.uk
Contact
For further information on this release or other press matters please contact:
- Matthew West, PIMFA PR Manager – MatthewW@pimfa.co.uk, +44 (0)20 7382 0376
- Sheena Gillett, PIMFA Communications & PR Director – sheenag@pimfa.co.uk, +44 (0)20 7011 9869 / +44 (0)7979 493225
