Nucleus Financial Platforms has outlined a number of changes to its executive committee for 2024.
The planned changes follow the completion of the Curtis Banks acquisition on September 26, 2023.
Earlier this year, Alex Kovach, chief commercial officer at Nucleus, signalled that he intended to step down after helping navigate the completion of the deal.
Now the transaction is complete, Kovach will leave at the end of the year and will be replaced by Mike Regan, currently chief financial officer, subject to regulatory approval.
Kovach joined from Interactive Investor in 2020 and helped spearhead the growth of the business via the acquisition and integration of Nucleus Financial.
He led its commercial team to focus on investing in the priorities of advisers, improving products, service and price, so they can help make their clients’ retirement more rewarding.
Kovach said: “With the acquisition of Curtis Banks complete, and after three and a half excellent years with the business, I’m following through on my intention to now move on.
“I look forward to handing over the commercial baton to Mike so he can help lead the business through its next phase of growth.
“I’ve hugely enjoyed my time with Nucleus and I’m really proud of what I’ve achieved, most significantly building a fantastic commercial team.”
He added: “My roles at both II and Nucleus have been characterised by rapid growth and transformation, and I’m now looking to take some time out before starting the next chapter.”
Regan has been CFO of Nucleus since September 2022 and is a board-level director.
Nucleus said his career track record includes success in M&A, leading business transformation, understanding client needs and developing high performing commercial teams.
Regan remains CFO until the end of the current year, and the process to appoint a new CFO has already started.
Meanwhile, Peter Docherty, currently interim chief executive officer at Curtis Banks, will become the Nucleus group’s chief risk officer (CRO) from January 1, 2024, subject to regulatory approval.
In the meantime, Docherty retains his Curtis Banks CEO role.
Since joining Curtis Banks in January this year, he led the team to navigate the sale of the business to Nucleus.
He was previously CEO and managing director of Embark Platform, and before that, CEO and CRO of Alliance Trust Savings.
Richard Rowney, CEO of Nucleus, said the completion of the Curtis Banks acquisition is an important milestone in its corporate journey.
“On behalf of the board and everyone who works in our group, I’d like to recognise Alex’s huge contribution towards the growth and transformation of the business, and thank him for everything he’s helped us achieve,” he said.
“I also thank him personally for his dedication and the support he’s given me personally, and I wish him well for the future.”
