2 min read 24 Feb 21
We’re delighted to announce that M&G Wealth has appointed Richard Denning as CEO of Ascentric.
Rich took over as interim chief executive in December 2020 and has now taken on the CEO role on a permanent basis, subject to regulatory approval.
Previously, chief digital officer and COO of digital solutions at Aegon, as well as holding senior positions at Novia, Skandia and Selestia platforms, among others.
M&G acquired Ascentric last year and following this rolled out its new M&G Wealth arm which includes the platform, as well as its self-employed advice network The Advice Partnership and the M&G Direct funds unit. Its assets under management currently sit at £28bn.
David Montgomery, M&G Wealth’s managing director, said:
‘Rich has a proven track record at senior levels in the industry. He has the dedication, drive, enthusiasm and vision that permeates throughout M&G Wealth that will undoubtedly be key to our future successes.
‘Ascentric, through significant investment, will be at the core of a lot of future developments and appreciably complements the other parts of M&G Wealth and the wider group.’
Rich Denning said:
‘M&G Wealth has a clear commitment and vision for Ascentric. Certainty of ownership, scale and a commitment to ongoing investment are critical in the wealth platform market and, quite rightly, are at the core of adviser expectations for their businesses as they strive to deliver best outcomes for their clients.’
‘On a personal note, I’m genuinely excited by the next stage in my 20-plus-year career in platforms. Under M&G it’s shaping up to be the best yet. M&G’s commitment to invest in the planet through our sustainability programmes and locally through our platform means we’re in a fantastic position to deliver on our ambitious plans in the coming months, to benefit advisers and their clients. All against the backdrop of disruption in the platform market, with acquisitions and private equity interests continuing to hit the headlines.’
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