Cofunds lines up new leadership

UK independent investment platform provider Cofunds will have a new CEO in the summer, as its current head of the business plans to move back into the role of Chairman.

Former Openwork CEO Martin Davis will take over from Charlie Eppinger, who has been either CEO or Chairman at Cofunds since 2003.

Eppinger will return to being Chairman, and play an active role in the transition process, the firm said.

His successor Davis has worked in financial services for 20 years, in roles spanning across management, distribution, and strategy. Firms he has worked for include Reuters, Misys/Sesame and Zurich Financial Services.

Davis will be charged with steering support for independent financial advisers (IFAs) in the lead-up to the implementation of the Retail Distribution Review (RDR).

The UK regulation, initiated by the Financial Services Authority (FSA) in June 2006, aims to counteract perceived inadequacies in the UK retail investment market and enhance consumer protection.

Due for implementation at the end of 2012, the regulation has already come under criticism as the industry believes it will create a more challenge environment for IFAs.

Incoming Cofunds CEO Davis said: “The RDR has redefined the financial landscape and platforms have a pivotal role to play in supporting financial advisers and intermediaries as they look to reduce risk and increase efficiency.

“The team at Cofunds has put in place a sound strategy for the next few years which includes ensuring that the platform is able to support advisers through the RDR.”

ABOUT THE AUTHOR
Luisa Porritt
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