Press Release — Skerritts Group announce Paul Feeney as new Group CEO

Skerritts Group (“Skerritts”), the fast-growing, tech-enabled wealth management group, is delighted to announce that Paul Feeney will take up the position of Chief Executive Officer from 2nd May (subject to regulatory approval), with founder Richard Skerritt remaining on the board as Non-Executive Director.

Paul is the former CEO of Quilter, the FTSE 250 wealth manager with over £100bn in assets under management. During his 10-year tenure, he led the transformation of the business from a predominantly closed life book business into the second largest wealth manager in the UK. Prior to Quilter, Paul held a number of senior roles in the wealth and asset management sector, including Group Managing Director of Gartmore Investment Management, and Chief Executive of Natwest Private Bank.

Sovereign Capital Partners invested in Skerritts in March 2021, and since then the business has completed nine acquisitions and become one of the leading wealth management brands in the South of England. Through significant team and technology investment, Skerritts now offers clients a fully integrated advice and investment management service, with further technology enablement planned for release in the near future. Additional highly selective acquisition opportunities are anticipated, delivering increased breadth and regional coverage. With the appointment of Paul, there will be further development and acceleration of this successful Buy & Build strategy.

Andrew Fisher, Non-Executive Chairman of Skerritts, commented:

“Paul is an outstanding CEO and business leader. Having worked with Paul previously, I am very excited that he has agreed to join Skerritts to take it to the next stage in its development. Richard has built a great platform and now with Paul at the helm we have the opportunity to create a leading business in the wealth management sector.”

Paul Feeney, incoming Chief Executive Officer, said:

“I am delighted to have the opportunity to work with Andrew again and also now Richard, two of the most successful entrepreneurs in the wealth management market. Skerritts has all the right building blocks and, importantly, the right values to become one of the leading wealth management businesses in this country, and with the continued backing of Sovereign Capital, that’s exactly what we are going to create.”

Richard Skerritt, Founder of Skerritts, added:

“I am immensely proud of Skerritts and what we have created over the last 30 years. The business provides clients with a holistic wealth management offering, and following Sovereign’s investment in early 2021, we have further invested in our capabilities. The technology roadmap for the next 18 months is very exciting. Paul’s significant sector experience will allow the Group to reach its full potential and I look forward to supporting the business and Paul as a continuing board member and non-executive director.”