FNZ Announces Executive Leadership Transition and $1B of Investment from Existing Institutional Shareholders

Investment
30.08.2024 11:05 am

FNZ, the leading end-to-end global wealth management platform, today announces that Adrian Durham, its founder, has decided to transition from his role as Group CEO to a non-executive role as Founding Director and Senior Advisor. Adrian will continue to sit on the Group Board and will remain a significant shareholder in the company.

Under Adrian’s leadership, FNZ has grown to a global company with over $1.4bn in annual revenue, employing 6,000 people over more than 30 countries, digitizing savings and investment for over 24m consumers with over $1.6tn of savings, and in the process improving choice, transparency, lowering costs and helping people to save for their retirement.

Blythe Masters has been appointed as the new Group CEO of FNZ. Blythe joins with decades of experience in global financial services having formerly been a senior executive at JP Morgan, where she held numerous executive leadership roles spanning nearly three decades and was a member of the bank’s firm-wide Executive Committee. She has also served on various boards for major global financial services firms, including Credit Suisse and Santander.

Roman Regelman has been appointed as the new Group President, reporting to Blythe. Roman has over 25 years financial services and technology experience driving transformational outcomes for global companies. Prior to FNZ, Roman led the largest segment at BNY Mellon as CEO of Securities Services and Digital, with close to $9bn in revenue, leading 25,000 people across 30 countries. Previously, he was a Partner and Managing Director at Boston Consulting Group.

Additionally, Stephen C. Daffron will become a Strategic Advisor to the Group. Stephen has been a technology and operational leader in financial services since launching his first company over 30 years ago, one of the early electronic trading systems. Since then, he has led technology, data and operations functions for Goldman Sachs and Morgan Stanley, as well as in the hedge fund space for Jim Simon’s Renaissance Technologies.

Together, Blythe, Roman and Stephen bring expert sectoral knowledge with Blythe and Stephen also bringing an understanding of FNZ’s business through their positions at the company’s strategic investor, Motive Partners, where they are Founding Partners.
The leadership changes come as FNZ’s existing shareholders, including some of the world’s largest institutional investors, have committed $1bn of capital to support the enduring success of the business over the long term.

Through this transition, FNZ will maintain its focus on sustainable growth, including continuous innovation and improvement of its unique offering, consistent delivery for clients, and maintaining high levels of retention.

Adrian Durham, Founding Director and Senior Advisor, said:

Over the last 20 years we have built FNZ into a global market-leader in wealth management, partnering with over 650 institutions and over 12,000 wealth managers. None of this would be possible without the support and hard work of more than 6,000 colleagues across the globe, who have been instrumental in the success of the company.

"I am proud to say 3000 are also shareholders in the company and share directly in the value they have helped create. I would like to pay special tribute to the contribution of our former Group Chairman, Lord Sandy Leitch, who worked with me closely as a team, over the last 12 years to build this company.
“As FNZ continues to grow and innovate, I have decided that now is the right time to transition from my role as Group CEO to non-executive Founding Director and Senior Advisor. I am delighted to be handing over to such experienced new leadership as we also announce today that our institutional shareholders have committed $1bn of investment to support the ongoing success of the company.”

Gregor Stewart, Chairman of the FNZ Group Board, said:

On behalf of the Board of Directors, I’d like to thank Adrian for everything he has contributed to the company since its inception, as both Founder and Group CEO. We are grateful that he will remain with the business in his new role as a Senior Advisor and continue to sit on the Group Board. I am delighted that Blythe and Roman will be joining as Group CEO and Group President respectively, bringing decades of regulated financial services experience, to support the next phase of FNZ’s sustainable growth. I would also like to thank our institutional investors for their continued enthusiastic support.

Blythe Masters, Group CEO, said:

I am excited to be joining FNZ for this next phase in its growth journey, leveraging Adrian’s continued vision and strategic advice. We will be focused on the delivery of a sustainable growth strategy, underpinned by more than $1bn of investment. Our priority will be delivering world-class service for clients, working together with the FNZ teams across the world.