AJ Bell has announced the appointment of Michael Summersgill to the newly created role of deputy chief executive officer with effect from 1 October 2021.

The investment platform also confirmed that Roger Stott has been appointed to the newly created role of chief operating officer, and will also join the company’s Board on 1 October 2021.

Summersgill has held the position of chief financial officer since 2011 and is currently responsible for the company’s finance and operations functions. In his new role, he will support chief executive officer, Andy Bell, with the development and execution of the investment platform’s strategy to drive its future growth.

Stott, who is currently group finance director and has had a broad range of responsibilities in 13 years at AJ Bell, will assume responsibility for the company’s operational functions.

As a result of the changes, AJ Bell confirmed it is now conducting an external search for a new chief financial officer to join the Board.

Margaret Hassall, who recently stepped down as a non-executive firector of Nucleus Financial Group, has also been appointed by AJ Bell as a non-executive director and will join the Board on 1 September 2021.

Commenting on the announcements, Chair of AJ Bell, Les Platts, said: “These changes will further strengthen the Board, both at executive and non-executive level, as the business embarks on the next phase of its long-term growth.

“The changes, together with the planned recruitment of a new Chief Financial Officer, will bring greater experience and diversity to the Board. This will benefit all of our stakeholders and enable the Board to continue to maintain effective oversight as the business continues to grow.”

Chief executive, Andy Bell, added: “Our business is growing quickly and there are exciting opportunities to take advantage of in the investment platform market. It is important that we have the resources and expertise within the business to support this growth and that includes the Board.

“I am as enthusiastic as I have ever been about the prospects for the business and I am looking forward to working with Michael, Roger, Margaret and the rest of the team as we embark on our next phase of growth.” 

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