REG - Kingswood Holdings - Directorate changes

Kingswood HoldingsAnnouncement

25/04/2022 07:00

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RNS Number : 1315J  Kingswood Holdings Limited  25 April 2022

KINGSWOOD HOLDINGS LIMITED

 

("Kingswood", the "Company" or the "Group")

 

 

Kingswood Holdings Ltd (AIM:KWG) is delighted to announce the appointment to
the Board of David Lawrence as Chief Executive Officer of Kingswood Holdings
Limited and Richard Avery-Wright to the boards of its UK regulated
subsidiaries KW Wealth Planning Limited and KW Investment Management Limited.

David was appointed as UK CEO of Kingswood in December 2020 and has over 30
years' experience in financial services, predominantly with Lloyds Banking
Group where he has held numerous senior leadership roles in distribution and
functional areas across its Retail, Commercial and Insurance divisions.

Richard has over 30 years of commercial and investment experience. He began
his career in 1985 on the floor of the London Stock Exchange acting as a
trainee stockbroker. For the following 22 years, Richard worked for a number
of well-known financial services firms, including Man Group PLC, and Old
Mutual PLC, both in the UK and in Australia. In 2007, Richard co-founded Pie
Funds Management in New Zealand. In 2012, Richard settled in Guernsey and
established RCP Holdings Limited, which has co-founded or has made investments
in a range of businesses including, RAW Capital Partners, Castle Point Funds
Management, Wealthify and MYPINPAD.

 

David Hudd, Chairman commented:

''On behalf of the board, we are absolutely delighted to announce David
Lawrence as our new Chief Executive Officer. His leadership of Kingswood UK
has been transformative, and we are confident David will take the business to
another level over the coming years, fully realising its potential.

 

"I would like to express huge thanks to Gary Wilder for stepping into the CEO
role over three years ago and having the vision for what Kingswood can become
both domestically and internationally. The board will continue to benefit from
this as he steps back into a non-executive role.

 

"I am also pleased to welcome Richard Avery-Wright to the Boards of our UK
regulated subsidiaries KW Wealth Planning Limited and KW Investment Management
Limited. Richard will be a strong addition to the Group's governance and
brings a deep and highly successful track record of building and creating
value in a number of businesses, including the sale of 50% of RAW Capital
Partners to a group of UK based insurance investors which culminated in the
demerger of the venture capital arm into a new regulated business, 1818
Venture Capital, a specialist investor in European (mostly UK) fintech and
digitally-enabled businesses. His knowledge and expertise in fintech will be
invaluable as Kingswood builds its presence in this area."

 

Gary Wilder commented:

''Since appointing David Lawrence as UK CEO in December 2020, huge progress
has been made on our ambition to become a leading Wealth Manager. The
business is now demonstrating leading credentials in buy and build, delivering
strong inorganic and organic growth and leveraging the benefits of being a
vertically integrated wealth manager. With equal investment in its people,
client experience and technology, the business is now exceptionally well
placed for its next phase.

 

"Accordingly, it is now exactly the right time for me to step back into a
non-executive role and give David the mandate to take the business forward as
Chief Executive Officer.

 

"I will continue to have oversight of Kingswood US, though this will continue
to be very capably led by Mike Nessim who is delivering some stellar
successes.''

 

David Lawrence, Chief Executive Officer commented:

"I joined Kingswood excited by the vision and opportunity to build a leading
wealth management business in the UK. Fifteen months in, I am delighted to be
leading an increasingly successful, rapidly growing business and a team of
people where I am hugely proud of what they do each and every day for our
clients and each other, with so much more to come. The business is being
transformed, most notably illustrated by the eight acquisitions and
integrations that we have completed in the last twelve months, with a strong
pipeline for a similar number during 2022. With an equally strong focus in our
people, our client experience, technology and proposition, I expect the next
fifteen months to be an incredibly exciting period for Kingswood.

 

"I am delighted to have been invited to join the board of Kingswood Holdings
Limited as Chief Executive Officer and look forward to working with the board
to deliver on our ambitions.''

 

Richard Avery-Wright commented:

"I am excited to have been invited to join the boards of Kingswood's UK
regulated subsidiaries. Kingswood has an excellent story and the growth
ambitions are incredibly exciting. There is an excellent team in place who are
passionate about the vision that Kingswood is set to achieve.  I look forward
to working with Kingswood and in particular supporting in the development in
the  Fintech and digital  space.''

 

Regulatory disclosures

In accordance with Schedule 2(g) of the AIM Rules for Companies, David Frank
Lawrence (aged 53) holds the following directorships and partnerships:

 Xcap Nominees Limited
 Regency Investment Services Limited
 Novus Financial Services Limited
 Money Matters (North East) Limited
 Metnor Holdings Limited
 KW Wealth Planning Limited
 KW Wealth Group Limited
 KW Investment Management Limited
 Joseph R Lamb Independent Financial Advisers Limited
 Joseph Lamb Financial Planning Limited
 IPN Partners Limited
 IBOSS Limited
 IBOSS Asset Management Limited
 EIM Nominees Limited
 Casson Beckman Wealth Management Limited
 Allots Financial Services Limited
 AIM Wealth Holdings Limited
 AIM Independent Limited
 Admiral Wealth Management Limited

 

David Lawrence is beneficially interested in 75,757 ordinary shares of 5 pence
in the capital of the Company ("Ordinary Shares") and holds 5,000,000 options
over Ordinary Shares.

Save for the disclosures above, there are no further disclosures to be made in
accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies.

 

For further details, please contact:

   Kingswood Holdings Limited                             +44 (0)20 7293 0730

   David Lawrence                                         www.kingswood-group.com (http://www.kingswood-group.com)

   finnCap Ltd (Nomad & Broker)                           +44 (0)20 7220 0500

   Stuart Andrews / Simon Hicks / Abigail Kelly

   GreenTarget (for Kingswood media)                      +44 (0)20 7324 5498

   Jamie Brownlee / Alice Gasson / Ellie Basle            Jamie.Brownlee@greentarget.co.uk (mailto:Jamie.Brownlee@greentarget.co.uk)

 

About Kingswood

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG)
international fully integrated wealth management group with circa £9.1
billion of Assets under Advice and Management. It services circa 19,300
clients from a growing network of offices in the UK including Abingdon,
Beverley, Conisbrough, Darlington, Derby, Essex, Grimsby, Hampshire,
Harrogate, Hull, Lincoln, London, Maidstone, Newcastle, Rotherham,
Sheffield (2), Worcester and York with overseas offices
in Johannesburg, South Africa and Atlanta, New York and San Diego in US.

Kingswood offers a range of trusted investment solutions to its clients, which
range from private individuals to some of the UK's largest universities and
institutions, including investment advice and management, personal and company
pensions and wealth planning. Kingswood is focused on becoming a leading
player in the wealth and investment management market through targeted
acquisitions in the UK and US, creating a global business through strategic
partnerships.

 

 

 

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