Mark Duckworth will be replaced by former wealth management and banking boss Philip Howell
Openwork CEO Mark Duckworth, who came on as the firm's commercial development director in 2010 and became chief executive in 2015, will be replaced by Philip Howell (pictured) before the end of March.
Howell worked as Rathbones chief executive from 2014 until May last year and, according to Openwork, was instrumental in leading the wealth manager's transition into one of the largest discretionary fund managers in the country.
Prior to that, he headed up Williams de Broe Wealth Management and Fortis Private Banking. He also spent 24 years working in international banking with Barclays.
Howell said of his appointment: "The market demand for financial advice continues to grow unabated. As a long established, now adviser-owned business and ranking amongst the top three financial services networks in the UK, Openwork is already very well positioned.
"I very much look forward to working with our partners and management team in realising the full potential of the business."
Outgoing chief executive Duckworth felt "incredibly proud" of what he and the management team had achieved during his 10 years at Openwork and his five years as the boss.
"I feel that it is now the right time to hand the baton over to a successor to drive the next phase of Openwork's strategy and development as an independent, adviser-owned business," he added.
Howell's appointment is subject to statutory approvals.
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